Shanghai (ZXZC)- CATL announced on Thursday the strategic cooperation agreement it signed a few days ago with Jinko Solar Co., Ltd., the principal operating subsidiary of Chinese solar module manufacturer JinkoSolar Holding Co., Ltd. (JinkoSolar), for the joint promotion of solar-plus-storage integrated solution.

CATL, Jinko Solar inking agreement; photo credit: CATL

Under the agreement, both parties intend to carry out long-term strategic cooperation in fields such as the promotion of carbon neutrality in the industrial chain, global solar-plus-storage business development, energy storage business, and the innovation and development of solar-plus-storage integrated solutions.

“With the shared goal of achieving carbon neutrality, both parties will bring their industrial resources together to promote solar-plus-storage integration solutions in collaboration with industry partners. We expect to help our clients reduce their carbon footprint and lower carbon emissions, and set a green benchmark for the industry,” said Zhou Jia, President of CATL.

In the future, the duo will make full use of their respective strengths in photovoltaic and energy storage businesses, broaden the horizon of solar-plus-storage industry, and innovative in multiple areas from perspectives of technology R&D and business models, so as to provide global clients with more comprehensive new energy solutions and contribute to earlier accomplishment of carbon neutrality.

Ningde-based CATL is among the world's leading providers of lithium-ion battery storage cells and technologies, serving the likes of Tesla and a host of electric vehicle manufacturers.

According to CATL's semi-annual financial results, the company's first-half revenues from the energy storage system sale and the lithium-ion battery business (including the recycling of decommissioned batteries) amounted to 4.693 billion yuan ($726 million) and 4.986 billion yuan ($771 million), rising 727.36% and 303.89% respectively. The revenue from power battery system business zoomed up 125.94% to 30.451 billion yuan ($4.71 billion).