On August 18, CATL formed a joint venture with FAW Jiefang, the commercial vehicle division of the FAW Group, to jointly explore the new energy commercial vehicle market.

The two parties signed a strategic cooperation framework agreement and held an inauguration and signing ceremony for the joint venture, FAW Jiefang-CATL New Energy Technology Co Ltd., marking the start of the collaboration.

Located in Zhengding County of North China's Hebei Province, FAW Jiefang-CATL will tap into the businesses of new energy commercial vehicle sales, battery-swapping services, vehicle leasing, used vehicle trading, transportation contracting and carbon credit trading, aiming to create an ecosystem of new energy trucks and accelerate the electrification of urban transportation.

Zhou Jia, vice chairman of CATL, said: "The two parties will cooperate on the businesses of battery-vehicle separation service, vehicle leasing, transportation contracting and recycling of used vehicles and batteries to meet the needs of scenarios including resource transportation, municipal engineering, urban sanitation, logistics and delivery. We believe it is the perfect time to build a new energy commercial vehicle operation center that is based in Shijiazhuang and at the same time has influence on the whole country."

Xu Liuping, secretary of the Party Committee and chairman of FAW, said: "Jiefang-CATL is committed to creating innovative business models, providing system solutions, and solving customer pain points, so as to build a new industrial ecosystem and lead the development of the new energy commercial vehicle sector."

Hu Hanjie, assistant president of FAW, secretary of the Party Committee and chairman of FAW Jiefang, said: "Both parties decided to establish the joint venture after reaching a consensus on leading the development of the industry and better serving customers. Jiefang-CATL will prioritize the aftermarket operation of new energy vehicles, aiming to address customers' concerns in vehicle purchasing, using and replacement."