Shanghai (ZXZC)- On March 9, Zhejiang Geely Holding Group ("Geely Holding") paired up with China Petrochemical Corporation ("Sinopec") in Beijing to sign a strategic partnership framework, setting the stage for an ambitious collaboration, according to a post on Geely Holding's WeChat account.

This partnership is designed to fuse the strengths of both corporations, embarking on cooperation across various sectors like green and low-carbon industry transitions, methanol industries, new energy, and innovative materials. This concerted effort aims to streamline and elevate the supply and industrial chains, fostering premium development trajectories for both entities.

Photo credit: Geely Holding

In an era where the global rush toward carbon neutrality is picking up pace, and the clean energy market grows ever more competitive, the challenges of energy security and the need for rapid adaptation in energy supply chains loom large. Against this backdrop, the Chinese government's recent work report during this year's two sessions highlighted a clear directive: to propel the energy revolution forward, curtail fossil fuel consumption, and hasten the formation of a novel energy ecosystem. Confronted with these multifaceted challenges, it's crucial to hasten the emergence of new productive forces and drive revolutionary transformations within the energy sector.

Methanol stands out as a flagship project in this quest, celebrated worldwide for its clean, renewable, and efficient combustion properties. Its liquid state at ambient conditions makes it a safe, convenient energy source, poised for significant impact in the transportation sector as technologies mature. Geely said it has been at the forefront of methanol vehicle technology for nearly two decades, pioneering over 20 models and charting new courses for the evolution of new energy vehicles. The company is deeply invested in creating a sustainable methanol ecosystem, spanning production, logistics, refueling stations, vehicle application, and carbon capture, achieving maturity across the entire value chain.

The strategic agreement between Geely and Sinopec ushers in a new chapter of deepened collaboration in green methanol and beyond. It aims to forge a modern industrial chain that is both robust and competitive, jointly steering China's energy and automotive sectors towards a more innovative and sustainable future.