- BYD and Corvus Energy will jointly develop high-rate marine LFP battery systems.
- The agreement highlights a broader trend of Chinese battery makers expanding their global footprint.
BYD (HKEX: 1211) has signed a strategic cooperation agreement with Norway's Corvus Energy AS, aiming to accelerate the electrification of the global maritime industry.
The energy storage unit of the Chinese auto and battery giant held a signing ceremony on Wednesday during the 18th China International Battery Fair in Shenzhen.
The two companies plan to deeply integrate their respective resources and technological advantages in the maritime new energy sector, according to an announcement.
BYD and Corvus will collaborate on technology synergy and market expansion to jointly promote the research and development, certification, and large-scale implementation of high-rate marine lithium iron phosphate (LFP) battery systems, the announcement said.
Headquartered in Bergen, Norway, Corvus was founded in Canada in 2009 and is a leading global developer of marine energy storage systems.
The company has been deeply involved in the marine battery sector for years, holding more than a 50% global market share in maritime zero-emission solutions.
BYD's energy storage business, launched in 2008, has built a complete industrial chain, with its high-safety and high-rate battery solutions widely applied in various scenarios including electric vessels and industrial equipment.
The move aligns with a broader trend of Chinese battery manufacturers continuously expanding their global business footprint.
Just on Tuesday, Eve Energy signed an 8 GWh energy storage order with Indian energy firm Godawari New Energy Private Limited (GNEPL).
Eve Energy's deal marks a breakthrough in the South Asian market, and these moves underscore how Chinese companies are actively seizing the historic opportunities presented by the global transition to low-carbon energy structures.
