BYD and JA Solar will jointly develop energy storage products to provide integrated solutions for photovoltaic power generation and energy storage.

(Image credit: JA Solar)

BYD (HKG: 1211, OTCMKTS: BYDDY) has entered into a partnership with solar panel maker JA Solar Technology (SHE: 002459) to jointly tap the energy storage market.

JA Solar held a signing ceremony for the strategic partnership with BYD on April 9 at the latter's headquarters in Shenzhen, according to a statement from the Beijing-based solar panel maker today.

JA Solar and BYD, as leaders in the new energy industry, will establish an all-encompassing strategic partnership to explore cooperation opportunities in the global new energy sector, the statement said.

The two companies will deepen their cooperation in research, supply chain cooperation, global market development, and joint development of energy storage products to provide integrated solutions for photovoltaic power generation and energy storage, JA Solar said.

JA Solar's brief statement did not mention further details.

JA Solar is a new energy power generation solutions company, listed in Shenzhen in 2019, according to its website.

The company has set up 13 sales companies overseas, providing green PV products and services to 135 countries and regions.

BYD is the world's largest new energy vehicle (NEV) maker and one of the largest manufacturers of batteries, which are used in passenger cars as well as energy storage systems.

On May 4, 2023, BYD launched the first energy storage system that integrates its signature blade batteries, the BYD MC Cube.

These blade batteries feature a module-less, pack-less design that is integrated directly into the system, reducing the number of components by about 36 percent, BYD said at the time.

Yesterday, BYD announced that it will launch its next-generation MC Cube, the MC Cube-T, on April 11.

The new product will see capacity upgrades that will reshape the value of energy storage, BYD said.

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