According to news on May 22 by Huanqiu Network Technology, Changan Automobile stated on the interactive platform that Changan Automobile and CATL have established a battery joint venture company to engage in the production and manufacture of power batteries, with an annual production capacity of 25Gwh.

According to Changan Automobile, the company is expected to register in the first half of the year and start production within this year.

According to previous reports, Changan Automobile announced in February this year that the company plans to jointly invest in the establishment of a battery joint venture with Changan New Energy and CATL.

The announcement shows that the registered capital of the battery joint venture is 1.5 billion yuan. Among them, Changan Automobile invested 285 million yuan, holding 19% of the shares; Changan New Energy invested 450 million yuan, holding 30% of the shares; CATL invested 765 million yuan, holding 51% of the shares.