Chinese battery manufacturer CATL is preparing to introduce its battery swapping technology in Europe, as part of a broader strategy to lower electric vehicle (EV) costs and expand its global footprint, a senior company executive told the Financial Times.
Jiang Li, CATL’s Vice President and Board Secretary, said the company sees “huge potential” in battery swapping, particularly for making EVs more affordable by decoupling battery ownership from vehicle purchase. “Then we can copy the business model in Europe and other regions,” Li said, outlining plans to bring the system abroad after scaling domestically.
CATL aims to build 1,000 battery swap stations across China by the end of 2024 and expand to 10,000 within three years. The company has already held discussions with several European carmakers about adopting its battery swap infrastructure, though it has not disclosed names.
While geopolitical tensions have posed challenges, CATL remains committed to international collaboration. “We are still open to co-operating, especially in research and development,” Li added, noting the company’s desire to work with a wide range of partners. “We don’t want to make money with only one company. We want to share.”
CATL is a key battery supplier to automakers such as Ford, Tesla, and Hyundai. In 2023, it formed a €4.1 billion ($4.8 billion) joint venture with Stellantis to build a battery plant in Spain. This month, Stellantis announced the launch of its Free2move car-sharing service in Madrid, using a fleet of 100 Fiat 500e vehicles equipped with swappable batteries in partnership with U.S.-based Ample.