China's CATL, Sinopec aim to build 10,000 battery swap stations, state media reports

Chinese electric vehicle battery giant CATL will join hands with state-owned oil giant Sinopec (0386) to build 10,000 battery swap stations, Xinhua news agency reported on Wednesday.

As part of a strategic deal signed in Beijing, the two companies will build at least 500 battery swap stations this year, according to the report, without giving the timeline for the long-term goal of 10,000 such stations.

REUTERS