FAW Jiefang and CATL Sign Strategic Partnership Agreement

Recently, FAW Jiefang and CATL signed a strategic cooperation agreement in Ningde, Fujian. The signing ceremony was attended by Li Sheng, Chairman and Party Secretary of FAW Jiefang, and Zeng Yuqun, Chairman and CEO of CATL, who witnessed this significant moment. Zhao Libin, Minister of the Supply and Procurement Department of FAW Jiefang, and Lai Yongjie, Executive President of CATL's Industrial Business Department, signed the agreement on behalf of both companies.

FAW Jiefang, a commercial vehicle manufacturer with a history of 71 years, was listed on the Shenzhen Stock Exchange in May 2020. The company offers seven product series and has been accelerating its development in new energy and intelligent connected vehicle fields, aiming to become a leading provider of green and intelligent transportation solutions both in China and globally.

According to the agreement, the two companies will collaborate extensively in the new energy commercial vehicle sector, combining their strengths to advance product development, technology projects, industrial ecosystem building, and innovative business models. The focus of this partnership is their joint venture company, Jiefang CATL New Energy Technology Co., Ltd., which will support both companies in significantly increasing new energy commercial vehicle sales.

Driven by the 'dual carbon' strategy, the green transformation of the commercial vehicle transportation industry has become increasingly urgent. TThe market holds great potential. According to the China Association of Automobile Manufacturers, the sales of new energy commercial vehicles in China reached 462,000 units from January to November 2024, with a year-on-year growth of 31.1%.

CATL has already established a strong presence in the commercial vehicle sector and launched its first commercial vehicle battery brand, "CATL Tianxing." This brand serves various fields such as logistics and public transportation, providing long-range, fast-charging, and long-life solutions for buses, light trucks, heavy trucks, and construction machinery.

Looking ahead, CATL will leverage its leading position in core new energy technologies to work with FAW Jiefang to accelerate the development and widespread adoption of commercial vehicle battery technologies, helping the industry achieve full electrification at an earlier stage.

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