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CATL, POWERCHINA form strategic partnership to drive energy storage, smart energy development

Monika From Gasgoo| August 14 , 2023 14:15 BJT

Shanghai (Gasgoo)- On August 11, Chinese power battery giant CATL and POWERCHINA (Power Construction Corporation of China), a state-owned infrastructure construction company, inked a framework agreement to carry out strategic cooperation in multiple areas including energy storage and global business expansion, according to CATL’s WeChat account.

CATL, POWERCHINA form strategic partnership to drive energy storage, smart energy development

Photo credit: CATL

This collaboration, poised to create synergies across various sectors, encompasses a multifaceted approach spanning research into cutting-edge energy storage applications, cooperative ventures in energy storage products and industries, expansion into both domestic and international energy markets, smart energy and smart city demonstration projects, comprehensive renewable energy bases embracing wind, solar, hydro, and thermal sources, energy storage equipment manufacturing bases, as well as venturing into international markets.

POWERCHINA boasts a global footprint extending across 130 countries and regions. The conglomerate assumes a pioneering role in clean and low-carbon energy, water resources, and environmental development, fueled by its integrated "invest, construct, operate" capabilities that encompass the entire industry chain. In tandem, CATL emerges as a premier global innovator in the realm of new energy technologies, wielding a competitive edge in advanced energy storage R&D, manufacturing, operations, and comprehensive lifecycle services. This collaboration thus unites two industry powerhouses at the forefront of China's transition towards environmentally conscious and sustainable practices, deepening the integration of their respective industry chains.

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