BAIC collaborates with CATL and Xiaomi to build a battery cell plant

With new quality productive forces leading the way, BAIC Group industrial chain ecology will add new kinetic energy. The three enterprises under the Group will jointly establish a platform company tobuild a battery cell factory with CATL and Xiaomi, and continuously speed up the implementation of a comprehensive new energy strategy.

Recently, BAIC Blue Valley (600733) announced that it proposed jointly investing with BAIC Capital and Beijing BHAP to establish BAIC Hailanxin Energy Technology (Beijing) Co., Ltd., a platform company with a registered capital of CNY 390 million. This company will work as the main body of management and investment to jointly establish Beijing Times New Energy Technology Co., Ltd., a joint venture company, with CATL, Jingneng Technology and Xiaomi Automotive. After its establishment, it will invest in building an intelligent battery cell manufacturing factory in Beijing.

The cooperation between BAIC Group and CATL began in 2010. With the deepening of cooperation, both parties have had deeper cooperation in supply chain collaboration, technology development, standard formulation, after-sales service, and other aspects. Through a series of high-level and deeply integrated achievements, they have led the development of China's new energy vehicle industry. CATL is also a major battery supplier for Arcfox vehicles. Through this cooperation, they will jointly build a battery cell factory, which will play a positive role in integrating core and high-quality supply chain resources, and seeking for long-term and stable development of Arcfox.

In February this year, Beijing Municipal People’s Government issued the Key Task List of 2024 Report on the Work of Beijing Municipal Government, which clarified the economic and social development goals and key tasks in 2024. The CATL Battery Cell Factory project was included in it. As an important state-owned enterprise in the capital, BAIC Group is based on the construction of the “Four Centers” in the capital. It adheres to the drive of technological innovation, unremittingly promotes the high-quality development of the new energy vehicle industry, and actively lays out the industry chain of key parts and components. It is committed to improving the development level of the automotive industry cluster, and contributes BAIC’s strength to the high-quality development of the automotive industry and economy and society in the capital.