(JW Insights) Oct 9 -- Chinese electric vehicle (EV) startup Neta Auto signed a strategic cooperation agreement with battery supplier CATL on October 7, reported Pandaily.

They will deepen their cooperation in market business, including new project and technology collaboration, supply of Shenxing batteries, and expansion of overseas business.

Zhang Yong, co-founder and CEO of Neta Auto, stated that going global is an important choice for further development of new energy vehicle companies. Building long-term strategic partnerships and deepening cooperation will help both parties move forward together and achieve greater breakthroughs in overseas markets.

It’s reported that Neta Auto signed a contract with CATL’s wholly-owned subsidiary, Times Intelligent, on January 11. The two parties will cooperate on the CIIC (CATL Integrated Intelligent Chassis) integrated intelligent chassis project. The first model equipped with CIIC is expected to be unveiled by the end of 2024.

Neta Auto and CATL officially signed a strategic agreement as early as November 9, 2021. CATL participated in Neta Auto’s Series D2 financing, strategically investing in the company and initiating comprehensive cooperation in technology research and development as well as supply chain assurance.

Neta Auto has previously announced the delivery performance for September, with a total delivery volume of 13,211 units across all models. It has achieved cumulative sales exceeding 10,000 units in Thailand, according to the Pandaily report.

(Gao J/Yuan XY)