CATL and POWERCHINA Enter into Strategic Cooperation

On August 11, CATL signed a strategic corporation framework agreement with Power Construction Corporation of China (POWERCHINA), aiming to promote cooperation in the sectors of energy storage, renewable energies and overseas operations. 

With business covering more than 130 countries and regions around the world, POWERCHINA is a global leader in clean and low-carbon energy, water resources and environmental construction with core competences and competitive advantages in the entire value chain integrating “investment, construction and operation” in the abovementioned fields. CATL is a global leader in new energy innovative technologies, with leading advantages in R&D and manufacturing of advanced energy storage equipment, operation management, and full life cycle services. This cooperation is an opportunity for the two leading companies in their respective sectors to forge a strong alliance and deep integration across the industry chain for the green and low-carbon transformation of the industry. 

Robin Zeng, chairman and general manager of CATL, expressed his appreciation for the achievements of POWERCHINA in the fields of clean energy and international operations, and said that POWERCHINA and CATL fit each other strategically and have complementary resources, which laid a good foundation for this cooperation. He expressed his hope that both parties should strengthen the coordination across the value chain to promote industrial transformation and upgrading of both parties for high-quality development. 

Ding Yanzhang, chairman of POWERCHINA, said that the two parties should take this signing as an opportunity to establish a regular communication mechanism, build a comprehensive multi-field, multi-level, and multi-form cooperation pattern, devote themselves to core technology research in the fields of new energy storage, renewable energies, and overseas operations, promote the implementation of key projects and the realization of coordinated development, mutual benefit and win-win results, and make contributions to the carbon peaking and carbon neutrality goals of the country. 

According to the agreement, both parties will give full play to their respective advantages in different links across the value chain for all-round and multi-field practical cooperation in new energy storage application research, energy storage products and industrial cooperation, market expansion of domestic and foreign energy storage and comprehensive smart energy, demonstrative projects of smart energy and smart city, comprehensive energy base for wind, PV, water, and thermal power storage, energy storage equipment manufacturing base, and international business development, to promote high-quality development of the industry through technological innovation, and jointly promote the green development of China to a new level.