Sinopec acquires stake in CATL to promote construction of 10,000 battery swap stations
author: Ann
2025-05-26

On May 20, CATL was listed on the Hong Kong Stock Exchange (trading code 3750), and Sinopec, as the world's largest cornerstone investor, led the investment in CATL. This investment is another important capital operation measure after the two parties signed the "Industry and Capital Cooperation Framework Agreement" to announce the "10,000 Stations for Power Swap, People's Infrastructure". It will help both parties to jointly promote the construction of new infrastructure for power swap stations in my country and provide more efficient and convenient energy comprehensive services for new energy vehicle owners.
In April this year, Sinopec announced that it would work with CATL to build a national power swap network ecology and standard construction, unify the management and operation of power swap assets, and build no less than 500 power swap stations this year. In the future, they will jointly commit to the goal of building 10,000 power swap stations and jointly explore the path of coordinated development of new energy and traditional energy. The first heavy-duty truck Qiji battery swap station project of the two parties was officially signed in Fujian on May 21, marking that the cooperation and integration between the two parties has entered the substantive stage. The station uses the latest battery swap system released by CATL, which has the lowest ton-kilometer cost in the entire life cycle and the highest safety performance in the industry. After completion, it will become the core new energy supply node for coastal highway freight from the Yangtze River Delta to the Pearl River Delta.
In the next step, Sinopec and CATL will comprehensively deepen their long-term strategic cooperation relationship, continue to expand cooperation space in the fields of battery swap, zero carbon, microgrid, vehicle ecology, battery materials, etc., and create a comprehensive service circle of "people, vehicles, and life". At the same time, combined with the implementation of industrial cooperation, they will continue to promote multi-level capital operations and equity joint ventures, actively create a second growth curve, accelerate the formation of new quality productivity, and contribute positive forces to the realization of the "dual carbon" goal.
At present, Sinopec has built 30,000 comprehensive energy stations, with more than 300 million omni-channel users and an average daily service of 20 million customers. Among them, there are more than 10,000 charging and swapping stations, and the charging network covers 31 provinces (autonomous regions and municipalities) across the country. Charging and swapping networks have also been deployed in countries and regions such as Hong Kong, Thailand, and Singapore, to fully guarantee economic development and people's travel, and serve a better life.
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The National Development and Reform Commission is vigorously promoting the elimination of inefficient and backward production capacity in industries such as oil refining and steel.
