SAIC has joined forces with power battery giant CATL and two local oil giants to launch battery swap services, as China's largest automaker increases its bets on the emerging segment.
SAIC announced today that it has joined Sinopec, China National Petroleum Corp (CNPC), CATL and Shanghai Automobile City to form a joint venture with a registered capital of RMB 4 billion ($560 million), Shanghai Jieneng Zhidian New Energy Technology Co Ltd.
SAIC's Rising Auto, Roewe, MG, and Maxus brands will launch models that support battery swap, covering all categories including SUVs, sedans, MPVs, and commercial vehicles, the company said.
