Recently, Contemporary Amperex Energy Service Technology Limited (CAES), a wholly-owned subsidiary of CATL, entered into a cooperation framework agreement on battery-swap ecosystem with China United Property Insurance Co., Ltd. (CUPI), with an aim to establish a sound supporting system for China's battery-swap market and jointly promote the development of a healthy battery-swap ecosystem. 

China's battery-swap market is now facing numerous challenges related to insurance, including poor adpatablity of insurance products, unclear definition of responsibilities, and  difficulty in determining expenses. Based on the special mode featuring "separation of the vehicle and the battery" and the actual needs of users, the cooperation between CAES and CUPI is targeted at pain points of the industry, and provides customized risk management and insurance service solutions for the full process of battery swapping through the integration of both parties' superior resources and the cross-domain collaborative innovation. 

The partnership between CAES and CUPI marks a great milestone in the sound development of CATL's Choco-Swap ecosystem, which will significantly improve the matching of insurance products and battery swapping while offering all customers with accurate risk  assessment, professional insurance product design and highly-efficient claims services. By leveraging innovations in insurance service pattern and extensive collaboration in marketing, both sides will work toghther to create a transparent, fair and worry-free environment for consumption, which will encourage the customers to further trust and recognize the battery swapping mode, thus jointly boosting the growth of a sustainable battery-swap market.