CATL and China Pingmei Shenma Group Enter into a Strategic Cooperation Agreement to Facilitate Energy System Transition

On November 22nd, the signing ceremony for the strategic cooperation agreement between CATL and China Pingmei Shenma Group ("Pingmei Shenma Group") was held in Ningde, southeast China's Fujian Province. 

CATL has always been dedicated to advancing energy transition, as well as green and low-carbon development. With that, it has made the first attempt to establish cooperation with a large coal chemical enterprise to set up a model for efficient and extensive cooperation between the new energy sector and traditional energy companies. CATL and Pingmei Shenma Group will explore new investment models and cooperation mechanisms in equity investment and project funding, for the purpose of providing solid funding support and strategic guidance for the development of related areas. In addition, by making full use of their respective resources in industry, technology and talent, they will seek more ways to promote the formation of new energy storage ecosystems and maximize energy utilization. To ensure the delivery of zero-carbon systems across different applications, the two sides aim to build a "zero-carbon showcase" in a joint effort, which includes building a model "zero-carbon smart park" for the coal chemical industry and a number of demonstration projects, addressing new challenges and opportunities posed by climate change. 

At the same time, CATL and Pingmei Shenma Group plan to deepen cooperation in several areas, such as advancing closed-loop battery recycling, promoting the upgrade, integration and collaboration of industry supply chains, accelerating the pace of science and technology breakthroughs, and fostering the establishment of industry and national standards. As a result, the two sides will carve out a new way of empowering the coal chemical industry with new energy technology, thus being conductive to the integrated development of traditional energy and new energy, and the realization of carbon neutrality goals. 

Pingmei Shenma Group has developed various industrial chains originating from coal and salt, with operations spreading across multiple regions, industries, and diverse forms of ownership. It has ranked among the top 50 energy companies (groups) in China for three consecutive years. Looking ahead, CATL will work with Pingmei Shenma Group to promote the cluster-based development of the new energy industry featuring a complete industrial chain, new industry ecosystem, and sustainable development, while ensuring significant efforts in developing the Henan market.