Shanghai (ZXZC)- CATL recently signed a strategic cooperation agreement with Zhongcheng Dayou to co-work on an energy storage project, according to a press release the power battery giant issued on October 25.  

Photo credit: CATL

According to the agreement, during the "14th Five-Year Plan" (2021－2025) and "15th Five-Year Plan" (2026-2030) periods, the two parties will establish a strategic cooperation in energy storage projects involving 10 billion yuan level of investment. During the "14th Five-Year Plan" period, the scale of their collaboration will not be less than 3.5 GWh. Currently, they have formed a special working group and are actively promoting related cooperation matters.

Zhongcheng Dayou is affiliated to Dayou Guolian Holdings Group, which is jointly backed by Party School of the Central Committee of C.P.C., CITIC Group, and China Aerospace Science and Technology Corporation. Guided by China’s "dual carbon" goals, it is extensively involved in the energy storage market on both the user and grid sides and aim to become a frontrunner in the new energy ecosystem. Presently, its business scope spans various domains, including photovoltaics and energy storage, with several independent energy storage station projects deployed nationwide.

Xiao Lina, Executive President of CATL's Energy Storage Business Unit, pointed out that Zhongcheng Dayou boasts extensive project implementation experience and an extensive market presence in the energy storage field, making it an ideal choice for CATL's strategic cooperation. CATL will fully leverage its advantages in cutting-edge technology and green manufacturing within the new energy industry and work closely with Zhongcheng Dayou to facilitate the high-quality development of the energy storage industry. She added, CATL is actively developing the EnerD (314Ah cell) product and is implementing related industrial projects nationwide. CATL hopes that based on the progress of current projects, both parties will engage in active communication and soon reach a business cooperation model.