AIC Collaborates with CATL and Xiaomi Auto to Establish Advanced Battery Cell Manufacturing Facility

BAIC BluePark New Energy Technology announced plans to establish a platform company with BAIC Investment and Beijing Hainachuan to ensure a stable power battery supply. The platform company, with a registered capital of ¥390 million ($54 million), will form a joint venture, Beijing Era New Energy Technology Co., Ltd., alongside CATL and Xiaomi Auto.

The joint venture's registered capital is ¥1 billion ($138 million), with CATL contributing 51%, Xiaomi Auto 5%, and the platform company 39%. The collaboration aims to construct an intelligent battery cell manufacturing plant in Beijing.

BAIC BluePark's Arcfox brand is active in the new energy vehicle market, with the joint investment set to enhance the market competitiveness of its products. Despite experiencing losses, BAIC BluePark views the investment as crucial for stable power battery supply and achieving long-term sustainable development in the competitive new energy vehicle market.

The joint venture will engage in developing, producing, and selling lithium-ion batteries, power batteries, energy storage batteries, and related services. The platform company's 39% contribution and BAIC BluePark's indirect 5% participation align with their efforts to improve competitiveness and navigate market challenges.