Geely and Contemporary Amperex Technology's joint venture acquires equity in Chongqing Yaoning, with both parties continuing to deepen cooperation.

On September 11, information published by the State Administration for Market Regulation showed that the "equity case involving Chongqing Yaoning New Energy Technology Co., Ltd.," in which Contemporary Amperex Technology Co., Limited and Zeekr Automobile (Shanghai) Co., Ltd. jointly participate, was unconditionally approved on September 3, 2026. It is reported that this equity acquisition was not implemented unilaterally by Contemporary Amperex Technology, but was completed through Times Geely Power Battery Co., Ltd., a joint venture between GEELY AUTO and Contemporary Amperex Technology, and is a normal asset optimization under the existing cooperation framework between the two parties. After the transaction is completed, the daily operations of Chongqing Yaoning will be taken over by Times Geely, and GEELY AUTO will still play an important role in the project. Industry insiders analyzed that this adjustment is an important measure by Geely to implement the strategic focus of "One Geely" and does not affect the advancement of its in-house battery strategy. At present, Geely's battery business was integrated into Jiyao Tongxing in April 2025 and uniformly released the "Shen Dun Golden Brick Battery" brand, while also clearing duplicate investments and marginal production capacity to improve resource utilization and overall return on investment. At present, the results of the integration of in-house batteries have gradually emerged: Jiyao Tongxing has built ten major intelligent manufacturing bases and three research institutes. As of the second quarter of 2026, its cumulative cell shipments reached 75 million units; since the beginning of this year, 70GWh of production capacity has been implemented, with projected revenue of 30 billion yuan, and future production capacity will be expanded to 150GWh. Geely will continue to adhere to the battery supply structure of "in-house development + strategic cooperation + diversified supplementation" to enhance the stability of its battery supply chain.