Geely responds to CATL's acquisition of battery company: Has not given up in-house battery development, "8.5 billion yuan investment" is untrue.

Recently, the case of Contemporary Amperex Technology Co., Limited's acquisition of equity in Chongqing Yaoning New Energy Technology Co., Ltd. was included, with the undertakings participating in the concentration being CATL and Zeekr Automobile Co., Ltd. On September 16, Geely responded that Yaoning is a newly built factory, and no one should mistakenly believe that Geely is no longer conducting in-house research and development or has given up on developing its own batteries because of the Yaoning matter. "That is not the case. Please be sure not to misinterpret it." Geely stated that the relevant cooperation is only part of Geely's strategic cooperation with excellent external battery manufacturers and does not mean that Geely has abandoned in-house research and development or lowered the proportion of its own research and development. "This is just a small move within Geely's overall battery strategy. Everyone must not misunderstand this part." In addition, regarding the online claim of "8.5 billion yuan" in investment, Geely explicitly denied it: "There is simply no such figure of 8.5 billion yuan. I also do not know where this 8.5 billion yuan came from." He speculated that it might be a comprehensive assessment including factors such as land prices, but reporting it as the total investment amount is a serious error. He stated that there is no such claim of a total investment of 8.5 billion yuan.