Recently, Beijing Times Power Battery Co., Ltd. was established, with Meng Xiangfeng as the legal representative and a registered capital of 1 billion RMB, specializing in battery manufacturing. According to enterprise search data, the company is jointly held by Xiaomi Automobile Technology Co., Ltd., Contemporary Amperex Technology Co., Ltd. (CATL), Beijing Jingneng Technology Co., Ltd., among others.
In March, Beijing Blue Valley announced its intention to establish a platform company jointly with BAIC Capital, and Beijing Hanachuan. The platform company will serve as the management and investment entity and will jointly invest with CATL, Jingneng Technology, and Xiaomi Automobile to establish a joint venture company, Beijing Times New Energy Technology Co., Ltd. (pending official registration by the industry and commerce department). After the establishment of the joint venture company, it will invest in and build an intelligent battery cell manufacturing factory in Beijing. The registered capital of Beijing Times is 1 billion RMB, with the platform company holding 39%, CATL holding 51%, and Jingneng Technology and Xiaomi Automobile each holding 5%.
Beijing Blue Valley previously stated in the announcement that this external investment is conducive to ensuring stable supply of the company's power batteries and promoting the priority application of new power battery products and technologies in the company's vehicle products. Beijing Times Power Battery Co., Ltd. solely specializes in battery manufacturing. It's worth noting that Xiaomi Automobile and CATL have had previous collaborations. Xiaomi Automobile announced in December last year that the Xiaomi SU7 is equipped with Xiaomi-CATL battery cells, with a battery capacity of 101 kWh.
