CATL sign strategic agreement with Sinopec Group to accelerate energy transition

On March 13, CATL signed a strategic cooperation framework agreement with Sinopec Group (Sinopec) in Beijing.

According to the agreement, the two parties will promote the demonstration and application of intelligent BESS charging technology in the microgrid scenario. Focusing on the joint venture, the two parties will accelerate the development of passenger vehicle battery swapping business and explore the feasibility of allocating commercial vehicle battery swapping facilities in integrated energy stations. In terms of technological innovation, the two parties will jointly promote the formulation and revision of standards related to battery applications (such as energy storage and battery swapping), and cooperate in research of whole-life-cycle carbon footprint measurement methodology of petrochemical products and reliable data calculation. In terms of energy storage, the two parties will cooperate in applications of industrial and commercial energy storage, energy storage of refinery enterprises, and renewable energy plus BESS to replace power supply of diesel generators. CATL will use its advanced energy storage technology to help Sinopec with energy saving and reduction of carbon emission. 

During the signing ceremony, the two parties had in-depth exchanges on further strengthening the cooperation in new energy, new chemical materials, technological innovation and other fields. In the future, the two parties will give full play to their respective advantages and work together to make greater contributions to promoting the green, low-carbon, and high-quality development of the energy industry. 

New quality productive forces are green productivity. CATL will work with Sinopec to allocate their resources across the value chain and the ecosystem, and continue to make efforts to develop new technologies and new partners, thus accelerating the sustainable development.