{
  "id": 16160567,
  "title": "China’s CATL, BAIC target 1 million cars with new battery swap network",
  "url": "https://urgent.news/2026/10/23/chinas-catl-baic-target-1-million-cars-with-new-battery-swap-network",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T06:40:12.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/international/chinas-catl-baic-target-1-million-cars-new-battery-swap-network"
  },
  "original_language": "en",
  "account": "Chinese battery manufacturer CATL and automotive giant BAIC are teaming up to establish a battery-swapping network that aims to service one million vehicles. CATL, a leading battery producer, intends to broaden its revenue streams with this long-term initiative. BAIC will integrate compatible models from various brands into CATL's Choco-Swap network and make its dealership network available to facilitate the deployment of battery-swapping stations. The collaboration will extend to vehicle and battery development, infrastructure construction, battery management, and the establishment of new business models. However, no specific timeline was disclosed for achieving the one-million-vehicle target. In 2025, BAIC had sold approximately 390,000 new-energy vehicles. This partnership highlights CATL's growing commitment to expanding battery swapping within China's electric-vehicle market and reducing its dependence on single battery pack sales. While battery swapping proves faster than recharging, CATL's network faces challenges such as high investment costs for stations and spare batteries, as well as resistance from automakers who need to standardize vehicle architecture to accommodate swapping.",
  "summary": "The companies will also cooperate on infrastructure construction and new business models, among others",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}