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BEIJING (Reuters) - Chinese electric vehicle battery giant CATL said on Wednesday that it will partner with state-owned oil giant Sinopec to build 10,000 battery swap stations.
As part of a strategic deal signed in Beijing, the two companies will build at least 500 battery swap stations this year, according to a company statement, which did not give a timeline to set up these stations.
The partnership will be based on CATL's "choco-swap" battery swapping and Qiji chassis battery-swapping solution to "break through the driving range bottlenecks of passenger vehicles and heavy-duty trucks," per the statement.
(Reporting by Beijing newsroom; Editing by Himani Sarkar)
