The German enterprise ElringKlinger (EK) has signed a framework agreement on a joint venture (JV) for lithium-ion battery technology with Sichuan Chengfei Integration Technology Co Ltd (CITC) from China.
The JV will focus on the development, production, and distribution of lithium-ion battery modules for the global automotive market in Asia, Europe, and the United States.
Chinese lithium battery giant Contemporary Amperex Technology Co Ltd (CATL) is planning a CNY13.12 billion ($1.98bn) initial public offering to expand its automotive battery business.
CATL said in a Shenzhen Stock Exchange announcement the move will ensure the firm keeps pace with the rapidly-expanding electric vehicle and energy storage markets.
Beijing-based energy storage firm Pu Neng has been awarded a contract to provide what it said will be “China’s largest flow battery” as part of a pilot energy storage project.
A 3MW/12MWh vanadium flow battery will be installed in a 10MW/40MWh at the battery demonstration facility as the first phase of integration with a photovoltaic system to supply the grid in Zaoyang, Hubei Province.