Uxin Inks Partnership With CATL's Subsidiary To Develop Battery Swapping Ecosystem For Used Cars

(RTTNews) - Chinese used car retailer Uxin Ltd. (UXIN) announced Tuesday a strategic partnership with Times Electric Service, a wholly-owned subsidiary of Chinese battery maker Contemporary Amperex Technology Co., Ltd. or CATL.

The partnership aims to promote the adoption and development of battery swapping models in the used car market, providing consumers with transaction services for pre-owned new energy vehicles.

The partnership is expected to diversify the new energy used car market and offer consumers a more convenient and reliable transaction experience.

As one of the earliest companies in China to engage in the inspection and transaction of pre-owned new energy vehicles, Uxin will leverage its extensive resources and experience in this partnership.

By joining forces with Times Electric Service's leading capabilities in standardized battery swapping technology and industrial chain development, the two companies will jointly establish a used car trading system based on the "vehicle-battery separation" model.

Key initiatives of the partnership include developing an online used car trading platform and battery marketplace tailored for the "vehicle-battery separation" model, as well as providing inspection, certification, and rating services for battery swapping used cars.

Additionally, both companies will collaborate to advance the construction of a battery swapping network, explore innovative business and service models, and promote the standardization of battery swapping technology.