Auto Giant SAIC Is Marching into the Battery Swap Industry

Automotive Author: Huilin Zhou Sep 23, 2022 07:04 PM (GMT+8)

The newly established Shanghai Jieneng Zhidian New Energy Technology, backed by auto giants including SAIC Motor, will focus on power battery leasing, power swapping technology R&D, battery operation management and big data services.

battery swapping

On September 22, Shanghai Jieneng Zhidian New Energy Technology Co., Ltd. (Chinese: 上海捷能智电新能源科技有限公司) (hereinafter referred to as Jieneng Zhidian) was established. The registered capital of the company reached CNY 4 billion, or USD 562 million, co-invested by SAIC Motor (Chinese: 上汽集团), SINOPEC (Chinese: 中国石化), PetroChina (中国石油), CATL (Chinese: 宁德时代) and Shanghai International Automobile City.

The shareholder structure shows that SAIC has hold a majority ownership of the company with a share of 37.5%, followed by Sinopec with a share of 25%, CATL, 12.5%, PetroChina, 12.5%, and Shanghai International Automobile City and Fujian Mindong Times Investment (Chinese: 福建闽东时代) each holding 6.25%. All these shareholders are mainly industry leaders, and SAIC’s move shows that the auto giant is marching into the battery swap industry.

After its establishment, Jieneng Zhidian will focus on power battery leasing, power swapping technology R&D, battery operation management and big data services. It is understood that SAIC's Rising Auto (Chinese: 非凡汽车), Roewe (Chinese: 荣威), MG and Chase will successively launch their battery swapping models covering SUV, sedan, MPV and commercial vehicles.

Among them, Rising Auto R7 is expected to be the first battery swapping EV model.