Recently, CAES, a wholly-owned subsidiary of CATL, entered into a partnership agreement for battery swap cooperation with UXIN Group, a top-tier brand of China's used car industry. Both sides will make joint endeavors to explore new business models and services, while developing the battery-swap market and ecosystem. Furthermore, the two parties will offer a one-stop battery service solution, providing customers with a full range of products that can be rented, sold, repurchased, changed, recharged and upgraded. 

In the wake of China's NEV market penetration rate hitting new highs, domestic used car trading is gradually heating up, and an increasing number of customers pay more attention to Residual Value Insurance (RVI), battery health, service life and other indicators of used BEVs. Furthermore, existing issues around unclear and inconsistent industrial standards related to testing, evaluation, and after-sales warranty require increased attention, in order to prevent further barriers to the development of the used NEV market. 

CAES, as one of CATL's wholly-owned subsidiaries, aims to build a used car trading system featuring the "separation of vehicle and battery," based on its own technical and industrial advantages in standardized battery swapping, represented by the Choco-Swap. These capabilities will be combined with UXIN's extensive expertise in used car market expansion, by developing an online trade platform and battery marketplace characterized by the separation of the vehicle and the battery, thus advancing the development of a standardized battery swap network. As such, technology and market expertise will combine in transforming the sector, and offer comprehensive services involving state detection, certification and classification for used cars. 

This partnership between CAES and UXIN marks a major milestone for the development of CATL's Choco-Swap ecosystem, which has progressively built out an industry chain for battery swapping, and made comprehensive breakthroughs in technology, service and business models. Such developments have effectively addressed key issues related to evaluation and pricing in the process of used NEV trading, in addition to fostering trust and contributing to the construction of a more transparent and safer trading environment for customers. Through expanded coverage of the battery swap network, it allows customers to enjoy a more convenient and efficient refueling experience, setting a new benchmark for the development of the used NEV market.