CATL has signed a 10-year strategic cooperation agreement with Yutong. The former was established in 2011 and has become a global leader for NEV power batteries, whereas the latter was established in 2012 and has become a global leader for commercial vehicles. Also, Yutong was CATL’s top client during the 2014-2017 period. The latest strategic cooperation agreement, which was signed in the Chinese city of Zhengzhou on August 9, will further widen and deepen the scope of their partnership.
According to the agreement, both parties will be sharing resources and complement each other’s advantages in the areas of buses, heavy trucks, light trucks, sanitation vehicles, and construction machinery. They will jointly develop the specification standards for NEV power batteries adopted by commercial vehicles. Furthermore, they will promote new kinds of materials, technologies, and system designs for NEV power batteries. Additionally, they together will expand into overseas markets and achieve the goal of exporting both vehicles and batteries.
As of now, CATL has supplied around 19GWh of NEV power batteries to Yutong. This amount powers nearly 150,000 buses. Also, CATL accounts for 93% of Yutong’s NEV battery supply and supports Yutong’s efforts to sell electric buses in about 40 countries and regions (e.g., Qatar, France, the UK, and Spain). Besides buses, CATL also provides the clean energy source other types of vehicles that are manufactured by Yutong. Examples include sanitation vehicles, concrete mixing trucks, tractor units, and dump trucks.
CATL said it will strengthen its partnership with Yutong and continue to explore efficient and practical models of cooperation in order to achieve mutual benefits. At the same time, both parties will continue to innovate and upgrade their technologies. Furthermore, they will promote the transition to green energy and low-carbon operation in their respective industries. In doing so, they will help accelerate the progress toward achieving carbon neutrality in the wider transportation system.
Besides Yutong, CATL has also established business relations with other Chinese commercial vehicle makers such as Suzhou Higer Bus, Xiamen King Long United Automotive Industry, Xiamen Golden Dragon Bus, CRRC Electric Vehicle, Zhongtong Bus, and Foton AUV Bus.
This article is a translation of a Chinese article posted by TrendForce. It contains information that is either sourced from other news outlets or accessible in the public domain. Some Chinese names are transcribed into English using Hanyu Pinyin.