Chinese battery manufacturer CATL has constructed more than 400 battery swap stations for passenger vehicles as of the end of July and is on track to reach its target of 1,000 stations by the end of 2025, the company said during its mid-year performance briefing.
The battery swap business, which also includes support for heavy-duty trucks, is progressing steadily. Around 100 swap stations have already been built for commercial trucks, with the number expected to triple by the end of the year.
CATL has partnered with multiple automakers to launch over 20 vehicle models that support battery swapping using its proprietary Choco-SEB technology. The company is collaborating with industry partners such as Sinopec, Nio, and Didi to strengthen the battery swap ecosystem in China.
The battery giant reported strong financial results, with second-quarter net profit rising 34% year-on-year to RMB 16.6 billion ($2.3 billion). For the first half of 2025, net income reached RMB 30.5 billion, an increase of 33% compared to the same period last year. Revenue for the six-month period rose nearly 17% to RMB 178.9 billion.
Since launching its EVOGO battery swap brand in 2022, CATL has laid out plans to significantly expand its infrastructure, with a longer-term goal of building 10,000 swap stations. The company has signed cooperation agreements with major Chinese automakers including Changan Automobile, SAIC Motor, FAW Group, and Wuling.