CATL, China’s biggest battery manufacturer, has announced that it will join the market of battery swap technology for EVs with a new brand named EVOGO. CATL has been teasing the new battery swap brand on social media in preparation for the forthcoming launch event in China.
CATL, or Contemporary Amperex Technology Co Ltd, is a worldwide energy technology firm and China’s biggest EV battery maker. Currently, the firm offers battery cells to prominent figures companies in the electric vehicle industry, including Tesla, NIO, Volkswagen, and now Fisker.
We announced in August that CATL had collected 58.2 billion yuan ($9 billion) in private capital to increase its battery cell production capacity and facilitate the automotive industry’s shift to electric vehicles.
Moreover, CATL has a strong R&D presence to develop the next generation of batteries to power EVs and other electronic devices, including technologies such as sodium-ion batteries.
CATL also appears to be investigating the commercial possibilities of battery swap technology, which involves instantly swapping an EV’s battery pack(s) rather than waiting at a charger. CATL’s new brand might soon compete with Chinese manufacturer NIO.
Starting on Saturday, the battery technology company published the news on its Weibo and WeChat pages, presenting a countdown until the formal ceremony on Tuesday afternoon, Beijing time.
For now, we don’t know much about CATL’s battery swap plans, other than the fact that it is planning to manufacture and install its swap stations.
The battery swap technique is still in its infancy in the world of EV battery technology, as most manufacturers have opted for stationary rechargeable battery platforms. At this stage, it’s unclear if CATL intends to collaborate with NIO or compete with it. However, when NIO launched its Battery-as-a-Service (BaaS) business in 2020, CATL’s joint venture Mirattery assisted with battery pack management.
Given their commercial ties regarding EV cells and entire swappable packs, it would seem logical for the two to unite to install additional battery switch stations across China and beyond.