Kandi Technologies Group Inc. (NASDAQ:KNDI) on Tuesday said its subsidiary, China Battery Exchange (Zhejiang) Technology Co. Ltd., has signed a framework procurement deal with Contemporary Amperex Technology Co. Ltd. (OTC:CYATY), one of the world’s largest battery makers.
The agreement brings China Battery Exchange into Contemporary Amperex Technology’s (CATL) battery swap ecosystem, supplying key equipment for the company’s expansive network rollout.
Under the deal, China Battery Exchange will provide standardized, high-performance battery swapping station systems, including station structures, robotic arms, and battery temperature control modules.
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The partnership supports CATL’s goal of building 500 battery swapping stations this year and scaling up to more than 10,000 across mainland China over time.
Kandi said the collaboration could lead to significant growth in equipment orders, starting with the first heavy-truck battery swap station expected for delivery within three months, followed by small-batch production runs.
Kandi’s battery swapping system features nine core modules, offering one-click operation, 90-second swaps, automated billing, and real-time monitoring. The company has been a pioneer in China’s EV battery swap market, leveraging its hardware, software, and operational solutions to meet rising demand for faster and more efficient charging alternatives.
CEO Feng Chen called the agreement “a quintessential example of the synergy between a dedicated equipment supplier and an ecosystem leader,” adding that the standardized, intelligent systems will help accelerate the expansion of battery swap infrastructure across China.
Price Action: KNDI shares are trading higher by 9.81% to $1.26 at last check Tuesday.
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