News, 15 April 2025
According to a post on CATL’s WeChat account, Hello Inc., Ant Group, and CATL inked a strategic partnership agreement with the goal of integrating their core competencies in shared mobility ecosystems, digital technology, and new energy vehicle innovation.
CATL is industry leader in electric vehicle battery technology. Hello Group Inc. (formerly Momo Inc.) is a Chinese social networking company known for its mobile applications like Momo and Tantan. Ant Group Co., Ltd. is a Chinese financial technology company and an affiliate of Alibaba Group. It is best known for operating the digital payment platform Alipay.
In order to accelerate the intelligent upgrade of the new energy vehicle industry and create a strong green ecosystem, the partnership will concentrate on four main areas: digital technology, green investment, green operations, and sustainable and intelligent mobility.
A collaborative effort to create intelligent green mobility solutions is at the core of this relationship. The three businesses want to work closely together on developing aftermarket service systems for new energy vehicle batteries, building integrated service platforms for new energy vehicle mobility, and intelligent driving technologies.
Plans to advance application development and commercial implementation in strategic industries are also part of the cooperation, maybe through the establishment of a joint company.
The announcement follows the mid-March publishing of CATL’s 2024 annual report. The company’s net profit attributable to shareholders increased by 15.01% year over year to 50.745 billion yuan, despite a 9.7% year-over-year drop in revenue to 362.013 billion yuan.
Despite ongoing growth in battery sales, CATL ascribed the reduction in revenue to lower product prices, which were modified in response to a rapid decline in the cost of raw materials like lithium carbonate. Continuous advancements in R&D, product competitiveness, cost control, and operational efficiency were the main drivers of the increase in net profit.
