SHANGHAI, Aug. 26 ,2020 /PRNewswire/ -- Guotai Junan International Holdings Limited ("Guotai Junan International", together with its subsidiaries as the "Group" or the "GTJAI", stock code:1788.HK) announced that the Group will join hands with NIO Inc. ("NIO"), Contemporary Amperex Technology Co., Limited ("CATL") and Hubei Science Technology Investment Group Co., Ltd., ("HBSTI") to collaboratively boost the innovation and development of New Energy Vehicle Battery, proactively responding to the national policy of supporting real economy by finance. Meanwhile, the companies will support Wuhan Weineng Battery Asset Co., Ltd ("Weineng"), dedicating to jointly promoting the development of "Car-and-Battery Separation" in the new energy vehicle industry and supporting Weineng to launch BaaS (Battery as a Service) products.
As a first-round participant of the project, GTJAI said: "New energy vehicle industry's development is greatly supported by the government's major policies. As the proportion of the new energy vehicle models with separate car and battery increases, Weineng will face an ocean of opportunities in the future. In recent years, the Group has been actively reviewing its development strategy in which better and stronger foundations were required for further breakthrough and development. The Group is expecting to provide more diversified products for its clients through active engagement in quality and exceptional projects with potential, and boost the development of corporate finance and wealth management business and synergy between business lines over the mid-to-long-term.
Wuhan Weineng Battery Asset Co., Ltd. is a battery asset management company based on the development of "Battery Replacement" and "Car-and-Battery Separation" business model. Relying on the NIO brand, Weineng is planning to expand its business to all electrical vehicle brands. Battery as a Service (BaaS) provides a comprehensive service including car-and-battery separation, battery rental, as well as other rechargeable, exchangeable and upgradeable services. It is a breakthrough innovation in terms of technology and business model, in which users do not need to purchase battery packs when purchasing a car, but to choose rental battery packs of different capacities by paying monthly service fees, according to their actual needs. BaaS users can also enjoy battery replacement services and flexible battery upgrade services just as battery-purchasing users.
