Oct. 26, 2023
CATL Inks Massive Energy Storage Cooperation Deal With SOE
BEIJING, October 26 (TMTPOST) – The world’s largest electric vehicle battery producer Contemporary Amperex Technology Co., Limited (CATL) has entered into a strategic cooperation agreement with state-owned enterprise Zhongcheng Dayou regarding energy storage from now to 2030. The deal was announced on Wednesday night by CATL. Under the agreement, the two parties will work together on energy storage projects worth 10 billion yuan. The project capacity from now to 2025 will be at least 3.5 GWh. The two parties have formed special working teams for the cooperation. Zhongcheng Dayou is a subsidiary of Dayou Guolian Holdings (Group) Co., Ltd, which was launched jointly by the Party School of the Central Committee of the Communist Party of China, also known as the National Academy of Governance, CITIC and China Aerospace Science and Industry Corporation Limited in 2006. Zhongcheng Dayou aims to become a leader in the new energy ecosystem.
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