CHANGAN Automobile and Ganfeng Lithium Forge Partnership with Memorandum of Cooperation

[China, Ningbo, December 25, 2023] In a significant stride towards advancing the Mission of Shangri-La NEV Strategy, refining industrial layout, and hastening the transformation into an intelligent, low-carbon mobility technology company, CHANGAN Automobile and Ganfeng Lithium inked a "Cooperation Memorandum" on December 22 in Ningbo, Zhejiang. The event was attended by some very important representatives, including Zhu Huarong, Chairman and Party Secretary of CHANGAN Automobile; Deng Chenghao, Vice President of CHANGAN Automobile and CEO of DEEPAL; Li Liangbin, Chairman of Ganfeng Lithium; Wang Xiaoshen, Vice Chairman and President of Ganfeng Lithium; Ge Zhimin, Chairman and President of Ganfeng Lithium Battery; Liu Ming, Vice President of Ganfeng Lithium Battery; and Lin Jiu, General Manager of Zhejiang Feng Lithium.

According to the memorandum, CHANGAN Automobile and its affiliates, in alignment with the principles of "equal shareholding and efficient operation", express their intention to establish a long-term strategic cooperation with Ganfeng Lithium. The focus will be on expediting the joint venture projects for (semi-) solid-state battery research and development and manufacturing industrialization. Building upon the principles of (semi-) solid-state battery research and development cooperation for the next generation of automotive power batteries, the collaboration aims to explore extended cooperation in the upstream lithium mining resources, lithium salt deep processing, battery materials, midstream battery manufacturing, and downstream comprehensive recycling and utilization of used batteries. This comprehensive approach seeks to advance strategic cooperation across the entire battery industry chain.

In 2017, CHANGAN Automobile unveiled its Mission of Shangri-La, marking a comprehensive acceleration in the transition to new energy. The strategic initiative included the establishment of three major intelligent new energy automotive brands: AVATR, a high-end emotional intelligence brand; DEEPAL, a brand targeting the younger generation with technology and digital new energy vehicles; and NEVO, representing the new generation of intelligent vehicles. Since then, CHANGAN Automobile has introduced a diverse array of highly acclaimed new energy products, including DEEPAL L07, DEEPAL S07, AVATR 11, AVATR 12, and NEVO A07. Covering a spectrum of power options, from pure electric to plug-in hybrid, extended-range, and hydrogen fuel cell vehicles, these offerings provide consumers with a versatile selection of eco-friendly travel choices.

Looking ahead, CHANGAN Automobile is committed to addressing challenges related to vehicle energy consumption, battery safety, and energy replenishment efficiency through technological innovation. The company aims to expedite the transformation into a smart, low-carbon mobility technology company by enhancing its cultural, efficiency, and software capabilities, establishing them as core competitive strengths. The future of CHANGAN Automobile is poised for intelligent and eco-friendly advancements in the realm of transportation.

CHANGAN Automobile's Chairman, Zhu Huarong, expressed, "The signing of the strategic cooperation memorandum between CHANGAN Automobile and Ganfeng Lithium marks a continued advancement in CHANGAN Automobile's Mission of Shangri-La, CHANGAN Golden Shield Battery Brand Strategy. Both parties will leverage their respective strengths to expedite the industrialization of (semi-) solid-state battery technology, aiming to provide users with a safer and more comfortable experience with new energy products. Simultaneously, they will explore deeper collaboration along the entire battery industry chain, solidifying a robust strategic partnership to enhance the safety and resilience of the industry chain, collectively driving high-quality development in the sector".

Li Liangbin, Chairman of Ganfeng Lithium, stated, "The collaboration between Ganfeng Lithium and CHANGAN Automobile is a strategic alliance at the core of our companies' development, representing a mutually beneficial and far-reaching partnership. Seizing the opportunity of solid-state battery technology research and development cooperation, we will leverage Ganfeng Lithium's advantages across the entire industry chain to promote strategic collaboration with CHANGAN Automobile throughout the full industry chain of the new energy sector. We hope that both teams will work together, harnessing their respective strengths, to jointly establish a solid-state battery research and manufacturing industrial base with international competitiveness. This collaboration aims to accelerate the industrialization of solid-state battery technology in China and maintain our international leadership position".