A strategic cooperation agreement has been reached between the Chinese battery giant Gotion High-tech and the Japanese company Edison Power Co Ltd to jointly pursue opportunities in Japan’s energy storage market.
Today’s press release issued by the Chinese battery maker reveals that the two companies signed a contract on March 15 to co-develop the Japanese energy storage and battery recycling markets and promote Gotion’s products in the Japanese market.
Gotion and Edison Power’s collaboration
The initial year of the partnership between Gotion and Edison Power has set a sales goal of 1 GWh, expected to increase to 2 GWh annually beginning in the second year and continuing onward.
Edison Power will be mainly accountable for Japanese energy storage customer services, EPC services, and energy storage system operation and maintenance. Gotion will be responsible for providing battery cells, modules, and BMS.
Moreover, Gotion will apparently collaborate with Edison Power to create a recycling system for recycled energy storage batteries in Japan.
The press release noted that huge opportunities would come for developing Japan’s large-scale energy storage battery industry due to the growth of worldwide renewable energy and the modification of Japan’s Electricity Business Act in May 2022.
Gotion ranked eight worldwide
Edison Power, which has been in the business of designing and producing energy storage battery systems since 1991, is also in the process of developing a business in the solar power and biomass power industries.
A recent report published by SNE Research revealed that one of the power battery giants in China, Gotion, ranked eighth in the world in January with a share of 2.1 percent.
According to data previously released by the China Automotive Battery Innovation Alliance, in February, Gotion ranked fourth in China regarding the number of power batteries it installed, totaling 0.78 GWh and holding a 3.58 percent share (CABIA).
Gotion’s energy storage battery business
CNEVPOST reports that after the power battery business, Gotion’s second-largest revenue generator is the energy storage battery business.
Based on the company’s semi-annual report, Gotion’s revenue for the first half of 2022 was RMB 8.6 billion. The power battery business contributed RMB 6.6 billion, equivalent to 76.51 percent of the company’s total revenue.
The energy storage battery business of Gotion contributed 14.8 percent of the total revenue to the company in the first half of the previous year, totaling RMB 1.28 billion.
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