What is宁德时代's (CATL) strategic move regarding AI data centers, and how does the investment in Zhongheng Electric fit into that plan?

CATL has invested in three AI data center (AIDC) companies within five months as a forward-looking preparation to enter the rapidly growing AIDC market. Its investment in Zhongheng Electric — specifically through acquiring a 49% stake in its controlling shareholder, Hangzhou Zhongheng Technology Investment Co., Ltd., for approximately RMB 4.1 billion — is a key part of this strategy. The deal, formalized on August 15 via增资 agreement and shareholder agreement, positions CATL to collaborate with Zhongheng Electric — a long-standing provider of HVDC power supply systems for major internet and data center clients like Alibaba, Tencent, and Baidu — in three strategic areas: computing infrastructure (i.e., AI/data center power and energy solutions), new energy, and next-generation power systems.

What specific agreements and outcomes resulted from CATL's investment in Zhongheng Electric's parent company?

As a result of CATL's investment, it signed both an增资 agreement and a shareholder agreement with Hangzhou Zhongheng Technology Investment Co., Ltd. on August 15, committing approximately RMB 4.1 billion to subscribe to newly issued registered capital. Upon completion of the transaction, CATL will hold 49% of Zhongheng Technology Investment, making it the largest minority shareholder. Concurrently, CATL and Zhongheng Electric entered into a strategic cooperation agreement outlining joint efforts in three frontier domains: computing infrastructure, new energy, and novel power system development.

CATL Invests in Three AI Data Center Companies Within Five Months

Aug 18, 2026

CATL acquired a 49% stake in Zhongheng Electric for 4.1 billion RMB, joining two other AI data center investments within five months. The partnership targets computing infrastructure, new energy, and new power system development.

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