Recently, CATL and Sinopec signed a cooperation framework agreement in Beijing. According to the agreement, the two parties will comprehensively deepen their long-term strategic cooperative relationship and jointly build a nationwide battery swap ecological network. This year, no less than 500 battery swap stations will be built, and the long-term goal is to expand to 10,000. Zeng Yuqun, Chairman and CEO of CATL, held a discussion with Ma Yongsheng, Chairman and Secretary of the Party Committee of Sinopec, Wang Hongbo, Chief Investment Officer of CATL, and Zhao Dong, General Manager and Deputy Secretary of the Party Committee of Sinopec, and witnessed the signing of the agreement. Previously, CATL and Sinopec have established a good cooperative relationship in the construction and operation of integrated energy stations, energy storage business, energy products and new materials, and scientific and technological innovation. The next step will be to give full play to their respective advantages and further expand cooperation space in the field of battery swap.