Several Chinese business information websites recently reported that compatriot carmaker CHERY has submitted an international trademark application for “Yuanqi Battery by CHERY and CATL” (“元气电池 BY CHERY & CATL”). The class that this trademark belongs to is 09, which encompasses scientific instruments. Currently, the application is still pending. As the trademark suggests, CHERY and CATL have formed a very close partnership, and the scope of their alliance continues to expand.
On April 16 this year, CHERY held an event to highlight its brand “iCAR”. At the event, CHERY and CATL jointly announced that they will be establishing a wholly-new battery brand named “ENER-Q”.
According to the related reporting, ENER-Q will be offering different kinds of battery technologies for a wide range of mobility-related applications. ENER-Q is reportedly planning to offer Li-ion, M3P, LFP, and ternary batteries. Hence, the brand covers a huge swath of the technologies related to battery materials. As for applications, ENER-Q is reportedly planning to devise batteries for BEVs, PHEVs, range extension solutions, consumer mobility services, and enterprise mobility services. Furthermore, both parties have announced that CATL’s Na-ion power battery will be first deployed in CHERY’s vehicles.
The partnership between CHERY and CATL formally began with the signing of an agreement for strategic cooperation on December 14, 2022. Under this agreement, both parties will collaborate in areas of product development, business development, marketing, and market intelligence. Regarding their collaborations on power batteries, they are not focusing simply on passenger vehicles. They plan to apply their solutions to buses, trucks, logistics vehicles, and even watercrafts. They also seeking opportunities pertaining to public transportation, integrated energy systems, and battery swapping systems.
By submitting the application for this new trademark, CHERY and CATL have formally revealed their strategic alliance. Going forward, both parties are expected to leverage each other’s resources and advantages to expand their presences in the domestic and foreign EV markets.
It is worth noting that CATL’s wholly-owned subsidiary Wending Investment acquired a 3.7252% stake in CHERY in December 2022. With this deal, Wending Investment became CHERY’s seventh-largest shareholder. Additionally, CATL and CHERY’s subsidiary Kaiyi Auto formed a joint venture named Kaiyi New Energy Technology. CATL has a 51% stake in the joint venture, while Kaiyi Auto has a 49% stake. CHERY is Kaiyi Auto’s second-largest shareholder with an almost 48% stake.