Contemporary Amperex Technology (300750.SZ) announced yesterday (18th) that it has signed a strategic cooperation agreement with BAIC Group. It is understood that the two parties will cooperate on the next-generation pure electric platform CIIC skateboard chassis project, jointly carry out research on skateboard chassis structure, system, process, cost, and performance balance, and create products based on needs such as "scenario-defined automobiles, intelligence, and customization".

The announcement also pointed out that the cooperation between the two parties and the Contemporary Amperex Technology's wholly-owned subsidiary, Time Electric Technology, will focus on the development of battery swap vehicles and battery swap blocks, circulation of battery swap blocks, battery-related data management, and regional cooperation of battery swap stations. In addition, the two parties will also cooperate with Era Qiji in the development, sales, and supporting battery sales, leasing, and energy services of related vehicle models for heavy truck battery swap business.

Contemporary Amperex Technology stated that BAIC Group, Contemporary Amperex Technology, and Time Electric Technology signed a framework agreement for the battery swap project yesterday; as for BAIC Research Institute and Era Intelligence, they also signed a letter of intent for cooperation on key technologies of the new platform. (js/k)

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