Recently, SAIC Motor and CATL formally signed a strategic cooperation agreement to deepen the cooperation. The two sides will further promote win-win cooperation in multiple fields such as technology co-creation, vehicle and battery aftermarket, overseas business expansion, and vehicle-battery separation. According to the agreement, the two sides will jointly develop power battery products suitable for SAIC Motor. CATL's innovative technologies such as Kirin battery and Shenxing battery will be applied to SAIC models first. SAIC Motor will regard CATL as the preferred partner for automotive power batteries. In the vehicle and battery aftermarket, such as charging pile construction, used car business and battery recycling, the two sides will actively explore further deepening strategic cooperation. In the overseas market, CATL will use its own overseas advantageous resources to build an overseas after-sales service network and supply goods nearby from overseas production bases to support SAIC Motor to accelerate its "going out". At the same time, the two sides also plan to cooperate in the vehicle-battery separation business. SAIC Motor will develop and sell battery-swap models; CATL and its affiliates will provide standard battery-swap batteries, and provide battery sales, battery leasing and battery-swap services for battery-swap models.