CATL acquires 24.87% stake in Qiyuan Green Power for 2.56 billion yuan
CATL contracted to buy a 24.87% stake in Qiyuan Green Power for 2.56 billion yuan, gaining exposure to battery-swapping for heavy-duty trucks. Qiyuan runs swap networks integrated into truck rear structures, used in mines, ports and steelworks. The network is expected to reach about 1,600 stations across 208 prefecture-level cities by end-2025.