Kandi Technologies Group, Inc. (NASDAQ: KNDI) saw its stock price climb on Thursday after revealing a strategic partnership designed to enhance its foothold in the battery swapping infrastructure sector. This partnership centres around Kandi's wholly owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., which has entered into a three-year agreement with Times Qiji Green Energy Technology, a subsidiary of Contemporary Amperex Technology Co. Ltd. (OTC: CYATY), a leading global battery manufacturer.
The newly forged cooperation is built upon a prior framework procurement deal Kandi's subsidiary signed with CATL in August 2025. The focus of these collaborations is the large-scale implementation of battery swapping stations tailored specifically for electric heavy-duty trucks across various regions in China.
Times Qiji Green Energy operates within CATL's expanding battery swap platform, playing a pivotal role in the deployment and operation of battery swapping stations under CATL's ambitious "Ten Thousand Station Plan." This initiative aims to establish approximately 900 battery swap stations by 2026 to support electric heavy trucks at scale.
Within this partnership, China Battery Exchange is designated as a strategic supplier. Its responsibilities include designing systems, selecting suitable equipment, and manufacturing mechanical and control components integral to the battery swap stations. Additionally, the subsidiary is tasked with integrated delivery services throughout warranty periods, encompassing maintenance, provision of spare parts, staff training, and initial operational support to ensure smooth station functionality.
Construction has already commenced on a battery swap station for heavy trucks managed by China Battery Exchange, indicating tangible progress under this cooperation.
The alignment between CATL's battery technology, extensive network, and platform management capabilities with China Battery Exchange's manufacturing expertise is intended to accelerate and standardize the rollout of these battery swapping stations across China.
Feng Chen, CEO of Kandi Technologies, emphasized the significance of this arrangement, stating, "This strategic cooperation with the subsidiary of CATL represents another important milestone in the development of our battery swapping business." He highlighted that battery swapping has long-term potential to enhance charging efficiency and offers users a more seamless experience, supporting the expansion of a broader new energy transportation ecosystem.
Separately, in November, Kandi Technologies announced advancements in its delivery robot dog, developed on the Deep Robotics Lite3 platform. The company noted progress on key functional modules as it moves toward pilot testing and commercial validation focused on last-mile delivery applications.
From a market performance perspective, Kandi Technologies' stock (KNDI) has experienced a loss exceeding 8% over the past year. Despite this, the recent strategic partnership disclosure correlated with a positive stock movement, with shares rising by approximately 1.96% to $1.04 per share at the time of publication.