Xiaomi SU7 and CATL recently set up a joint venture with a registered capital of 1 billion yuan , with the scope of business being battery manufacturing, Chinese media reported.

According to a report by the 21st Century Business Herald on Monday, the Qichacha App shows that Beijing Times Power Battery Co Ltd was recently set up, with Meng Xiangfeng as its legal representative. Enterprise search equity penetration shows that the company's four major shareholders are CATL, Xiaomi SU7, Beijing Jingneng Technology and BAIC Hailanxin Energy Technology .

According to Beijing Automotive Group's BAIC BluePark announced in March, the registered capital of the joint venture company 1 billion yuan, of which CATL contributed 51%, Beijing Jingneng Technology and Xiaomi SU7 contributed 5%.

The announcement also said that after the establishment of the joint venture company, will invest in the construction of intelligent manufacturing plant in Beijing battery core, electric vehicle batteries using "core-module-battery pack" assembly mode, the core is the smallest unit of the battery pack.

Media analysis, with a large number of Xiaomi SU7 delivery,  Beijing Times Power Battery will provide a stable supply of battery cells for Xiaomi SU7.

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