Shanghai (ZXZC)- Gotion High-Tech, a Chinese power battery supplier for Volkswagen and other big auto names, inked an agreement with SUMEC Co. Ltd. ("SUMEC") on October 9 to carry out strategic cooperation in such fields as domestic energy storage projects, development of overseas energy storage markets, and export business, according to both companies' announcements.

Under the agreement, the duo will make joint efforts to set up energy storage projects in China by leveraging Gotion High-Tech's mature solutions and abundant project-handling experience in the energy storage field, and SUMEC's channels and investment & funding capabilities in power plant, data center, and high-end equipment manufacturing industries. Their efforts will be mainly made in such sectors as large-sized centralized energy storage facility, vehicle-mounted power bank, as well as "Battery Bank".

Photo credit: Gotion High-Tech

Moreover, the two parties will promote in-depth collaboration overseas on projects of household energy storage, industrial and commercial businesses-dedicated energy storage, and the integration of photovoltaics, diesel, and energy storage, aiming to jointly develop energy storage products and green energy solutions.

As for export business, SUMEC will make full use of its export advantage to provide Gotion High-Tech with an integrated export service solution.

What's more, SUMEC will support Gotion High-Tech in developing the latter's foreign manufacturing projects with its outstanding financing service capability.

SUMEC is an important member company of China National Machinery Industry Corporation. It is keen on becoming an organizer and integrator of the global supply chain. By the end of 2021, SUMEC had set up 41 branches outside China with its business footprints covering 150 countries and regions.