[China, Ningbo, December 25, 2023] In a significant stride towards advancing the Mission of Shangri-La NEV Strategy, refining industrial layout, and hastening the transformation into an intelligent, low-carbon mobility technology company, CHANGAN Automobile and Ganfeng Lithium inked a "Cooperation Memorandum" on December 22 in Ningbo, Zhejiang. The event was attended by some very important representatives, including Zhu Huarong, Chairman and Party Secretary of CHANGAN Automobile; Deng Chenghao, Vice President of CHANGAN Automobile and CEO of DEEPAL; Li Liangbin, Chairman of Ganfeng Lithium; Wang Xiaoshen, Vice Chairman and President of Ganfeng Lithium; Ge Zhimin, Chairman and President of Ganfeng Lithium Battery; Liu Ming, Vice President of Ganfeng Lithium Battery; and Lin Jiu, General Manager of Zhejiang Feng Lithium.

According to the memorandum, CHANGAN Automobile and its affiliates, in alignment with the principles of "equal shareholding and efficient operation", express their intention to establish a long-term strategic cooperation with Ganfeng Lithium. The focus will be on expediting the joint venture projects for (semi-) solid-state battery research and development and manufacturing industrialization. Building upon the principles of (semi-) solid-state battery research and development cooperation for the next generation of automotive power batteries, the collaboration aims to explore extended cooperation in the upstream lithium mining resources, lithium salt deep processing, battery materials, midstream battery manufacturing, and downstream comprehensive recycling and utilization of used batteries. This comprehensive approach seeks to advance strategic cooperation across the entire battery industry chain.