Shanghai (ZXZC)- The municipal government of Zhaoqing city, Guangdong province recently entered into a comprehensive cooperation agreement with the Chinese power battery giant CATL, according to the latter's press release it posted via its WeChat account this week.

Photo credit: CATL

According to this newly signed agreement, Zhaoqing city and CATL will engage in extensive collaboration across various fronts, including new energy applications, green energy development, and manufacturing. This collaboration aims to boost the transformation and upgrading of Zhaoqing's manufacturing industry, promote regional coordinated development, and contribute to the establishment of the Guangdong-Hong Kong-Macao Greater Bay Area (Zhaoqing) Green Energy Production Base. This effort will play a significant role in fostering an innovative high ground for the global competitive new energy storage industry.

Zeng Yuqun, Chairman of CATL, expressed that Zhaoqing's industrial development, particularly the strong momentum in the growth of the new energy storage industry cluster, aligns perfectly with CATL's strategic outlook and deepening cooperation objectives. CATL intends to leverage its cutting-edge technologies in the field of new energy, green manufacturing, and other advantages to implement the comprehensive cooperation agreement thoroughly. Furthermore, it will promote industrial chain-related companies to invest and develop in Zhaoqing city. Together, they aim to turn the green and low-carbon "blueprint" into a "reality," striving for a higher level of mutually beneficial and win-win development, and making a more significant contribution to carbon peak and carbon neutrality.

It is worth noting that Zhaoqing city has preliminarily established a relatively complete new energy storage industry chain, covering energy storage batteries, battery materials, battery components, battery equipment, and battery recycling. This ecosystem has attracted a cluster of typical companies, including CATL and Leoch Battery, and has placed Zhaoqing among the top 50 cities in China by the concentration of new energy-related resources. As of August this year, Zhaoqing's enterprises with annual revenue of 20 million yuan or more in the new energy storage industry had grown to 28, achieving a combined output value of 28.4 billion yuan, marking an 80% year-on-year increase.