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China's CATL to start battery storage business with upcoming energy in Japan

China's CATL To Start Battery Storage Business with Upcoming Energy in Japan



File Photo: Chinese Battery Manufacturer Contemporary Empyrex Technology Ltd.



(CATL) mark is found on August 8, at its building in Ningde, Fujian Province, China. Image was taken on August 8, Reuters / Stringer / File Photo Tokyo / Shanghai Reuters) - China's Electric Wheat Battery Manufacturer Contemporary Empyrex Technology Co., Ltd. (CATL) (300750SD) says it will provide products for homes and plants in Japan in 2020, as it seeks to expand its global presence and diversify its business. The Chinese company will provide batteries in partnership with Japanese solar power company Next Energy and Resources, which will be responsible for integrating and installing energy storage systems that Japan plans to sell to utilities and other energy providers, the companies said. Statement. Tan Libin, vice president of the Energy Storage Business Unit at CTL, told reporters that the company is looking at Japan because the country's solar power market is expanding and feed-in-tariffs, which guarantees minimum power prices to boost solar development. Begin to finish later this year. CTL said their systems will reduce the cost of the home as service providers will pay for their installation, while additional power can be stored and transmitted to the city grid. "We hope to quickly incorporate the local market through in-depth cooperation with local Japanese companies," said Tan. Located in Fujian Province in Southeast China, CATL has strategic agreements with car manufacturers, including SAIC Motor Corp (600104.SS), Galley (0175.HK), BMW (BMWG.DE) and Volkswagen (VOWG_p.DE). 7203.) and is building its first European production site in Germany. It also extends its business to batteries for ships and storage systems. Report by Yuka Obayashi in Tokyo and Yili Sun in Shanghai; Editing by Brenda Goh and Christian Schmollinger

China's CATL to start battery storage business with upcoming energy in Japan China's CATL to start battery storage business with upcoming energy in Japan Reviewed by soham24 on July 26, 2019 Rating: 5

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