Xinhua Silk Road: Guotai Junan International to join hands with NIO and CATL in boosting innovation of NEV battery

BEIJING,Aug. 28,2020 -- Guotai Junan International Holdings Limited (Guotai Junan International) (1788.HK) announced that it would join hands with NIO Inc. (NIO),Contemporary Amperex Technology Co.,Limited (CATL) and Hubei Science Technology Investment Group Co.,Ltd.,(HBSTI) to jointly boost the innovation and development of new energy vehicle (NEV) battery.

The four cooperation partners will support Wuhan Weineng Battery Asset Co.,Ltd. (Weineng) to promote the development of "Car-and-Battery Separation" in the NEV industry,and will launch Battery as a Service (BaaS) which provides a comprehensive service,including car-and-battery separation,battery rental,and other rechargeable services.

The development of NEV industry is greatly supported by the favorable policies. As the proportion of the NEV models with separate car and battery increases,Weineng will face plenty of opportunities in the future,according toGuotai Junan International.

It is learned that Weinengis a battery asset management company based on the development of "Battery Replacement" and "Car-and-Battery Separation" business model. Relying on the NIO brand,Weineng is planning to expand its business to all electrical vehicle brands.

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