Contemporary Amperex Technology, or CATL (SHE:300750, HKG:3750), and Beijing Automotive Group agreed to collaborate on a battery-swapping system, Bloomberg reported Friday.

Beijing Automotive plans to integrate compatible models under several of its brands into CATL's Choc-swap network, as well as facilitate the roll-out of battery swapping stations using its dealership network.

The parties aim to service 1 million vehicles with the system once developed, partnering on the development and management of batteries, construction of infrastructure, and new business models, the report said.

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