On May 17, according to Chinese corporate information platform Tianyancha, a new firm named Beijing Times Power Battery Co., Ltd. was established in the Yizhuang district of Beijing. The company, which focuses on battery manufacturing, has a registered capital of 1 billion yuan.
The joint venture consists of four primary stakeholders: Xiaomi Auto, Beijing Energy Technology, CATL, and Beijing Auto Blue Core. Beijing Auto Blue Core owns 39% of the company, CATL has a 51% stake, while Beijing Energy Technology and Xiaomi Auto each hold 5%. This strategic investment is set to ensure a steady supply of power batteries for the company, further enabling the incorporation of new products and cutting-edge technologies into the company’s vehicles. This move is expected to significantly enhance the market competitiveness of the company’s products.
Yizhuang District’s official WeChat account earlier revealed that the joint venture plans to build an intelligent battery cell manufacturing facility in the city. Battery cells, being the smallest units of a battery system, are critical components. The establishment of Beijing Times Power is likely to bolster Xiaomi Auto’s capabilities.
Xiaomi‘s recently launched SU7 model is equipped with a self-developed battery. Information from the technology launch event indicates that Xiaomi and CATL have jointly invested in a team of thousands of R&D engineers over the past two years. Their collaboration resulted in the development of the Xiaomi 800V high-voltage battery pack.
The battery pack utilizes a proprietary CTB integrated battery technology that integrates the battery pack into the vehicle body. This innovative approach effectively reduces the vertical height of the vehicle, thereby creating additional space within the passenger cabin.
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