A total of 1 GWh of energy storage battery products are expected to be introduced into Japan over the next 2 years, Gotion said.
(Image credit: Gotion)
Chinese battery giant Gotion High-tech (SHE: 002074) has signed a cooperation agreement with Japan's Daiwa Energy & Infrastructure to further expand into the Japanese energy storage market.
Gotion's subsidiary in Japan, Daiwa Energy, and CO2OS, a subsidiary of Daiwa Energy, recently signed a cooperation agreement in Tokyo to develop and operate energy storage power plants and other businesses in the region, according to a press release today.
Gotion will be responsible for the supply of energy storage battery products and technical support for day-to-day operation and maintenance, Daiwa Energy will be responsible for project feasibility assessment and financial support, and CO2OS will handle the operation and maintenance of energy storage power plants.
A total of 1 GWh of energy storage battery products are expected to be introduced over the next 2 years to meet the demand for energy storage power plants for use in the grid and for renewable energy generation, according to the release.
Daiwa Energy, a subsidiary of the Daiwa Securities Group, was established in 2018 and invests in the renewable energy and infrastructure development sectors.
With a history of over 120 years, Daiwa Securities ventured into renewable energy in 2010, the release noted.
CO2OS is a photovoltaic power plant operation and maintenance business under Daiwa Energy, which focuses on operation and maintenance in the extra-high voltage and high-voltage sectors.
This is Gotion's further expansion into Japan's energy storage market following an agreement reached a year ago.
On March 20, 2023, Gotion said it entered into a strategic cooperation agreement with Japan's Edison Power to jointly tap into the energy storage market in Japan.
Gotion and Edison Power have a planned sales target of 1 GWh in the first year of the partnership, rising to 2 GWh per year from the second year onwards, according to a press release last year.
Gotion would supply battery cells, modules and BMS, while Edison Power would handle energy storage account management, EPC services, and operation and maintenance of energy storage systems in Japan.
Gotion is one of the world's largest battery makers, ranking No. 8 in the global electric vehicle (EV) battery market in January with a 2.7 percent share, according to South Korean market researcher SNE Research.
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