(Yicai Global) Oct. 26 -- Dongfeng Peugeot-Citroen Automobile, a Chinese-French joint venture, has become the second automaker to agree to develop an electric car that will use Contemporary Amperex Technology’s battery swap brand Evogo, the battery giant said.

The new EV will be equipped with CATL’s ternary lithium battery and have a range of 410 kilometers, Ningde-based CATL said yesterday, citing the deal signed with its battery swapping unit Electric Service Technology and Dongfeng Peugeot-Citroen. It will target the urban taxi and ride-hailing markets.

Battery swapping enables EV owners to quickly change a depleted power pack for a fully charged one at a swapping station, saving time and money, as a large part of an EV’s cost is its battery.

Based on the Dongfeng Fukang ES600, a sedan made by the Wuhan-based JV, the latest EV to embrace Evogo will be able change batteries in just three minutes. It is undergoing tests at the moment and is scheduled to launch next month, a source at CATL told Yicai Global.

CATL launched Evogo in January, following the start of swapping services by new energy vehicle startup Nio, major utility State Power Investment Corporation, and energy project developer GCL Energy Technology. Evogo’s first partner was FAW Group unit Bestune. Initially trialed in 10 Chinese cities, it is expected to have 30 swapping stations by year-end. 

It is easier to set unified standards for battery packs used in ride-hailing vehicles, so promoting battery swapping in this field will be easier than in the private car market, according to Tong Zongqi, director of the information department at the China Electric Vehicle Charging Infrastructure Promotion Alliance. 

Battery swapping is needed in the car-hailing and taxi markets, an industry insider told Yicai Global, as many vehicles run for 24 hours straight with drivers taking shifts. Battery swapping saves much time, he added.

Dongfeng Peugeot-Citroen has sold 100,600 cars so far this year, surpassing last year’s total, according to data it released earlier this month. The automaker has reported 23 straight months of year-on-year growth since a new management team took over in 2020, when the joint venture was struggling.

Editor: Martin Kadiev