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Reading: Gotion joins Edison Power to enter Japan’s energy storage market
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EV-a2z > News > Gotion joins Edison Power to enter Japan’s energy storage market
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Gotion joins Edison Power to enter Japan’s energy storage market

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Last updated: 2023/04/10 at 10:09 PM
EV-a2zs Published March 21, 2023 4 Min Read
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A strategic cooperation agreement has been reached between the Chinese battery giant Gotion High-tech and the Japanese company Edison Power Co Ltd to pursue opportunities in Japan’s energy storage market jointly.

Contents
Gotion and Edison Power’s collaborationGotion ranked eight worldwideGotion’s energy storage battery business

According to a press release issued by the Chinese battery manufacturer today, 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 High-tech and Edison Power Reached a Strategic Cooperation. Find out more:https://t.co/xRf1eW9jTI pic.twitter.com/pXgQUUMDzJ

— Gotion Inc. (@Gotion48660) March 20, 2023

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, which is 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, according to the release, Gotion will collaborate with Edison Power to create a recycling system for recycled energy storage batteries in Japan. 

According to the release, huge opportunities will present themselves for the development of 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.

MI Gov. Gretchen Whitmer gave $715 million in taxpayer funds to 700-acre Chinese battery plant.

Founded in 1998 and based in Hefei, China, Gotion High-tech Co.

The company was incorporated in California in 2014 and was focused on research and development activities in Fremont,… https://t.co/0wdpNSI4Ua

— Mama Butter Bean Polska 🇺🇲 🇵🇱 (@MamaButterBean) March 19, 2023

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.

According to a report published recently by a market research firm based in South Korea called SNE Research, 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 made public by the China Automotive Battery Innovation Alliance, in February, Gotion ranked fourth in China in terms of the number of power batteries that it installed, totaling 0.78 GWh and holding a 3.58 percent share (CABIA).

Gotion High-tech and Edison Power Co., Ltd. Reached a Strategic Cooperation https://t.co/jTIGZCUAac #PRNewsWire #PRNewswire

— Stock Market News (@Stock_Market_Pr) March 20, 2023

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, and 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.

See Also

  • Global companies that made the largest renewable energy investments in 2022
  • Amazon’s renewable energy portfolio grows beyond 20 GW, sufficient to power 5.3M homes
  • Tesla Megapacks aid Panasonic’s project to generate renewable energy production
  • Renewable energy contributed nearly one-quarter of US electrical generation during August 2022
  • IEA: Renewable energy sources to keep global CO2 emissions from increasing over 1% this year

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TAGGED: Battery, China, Edison Power, Electric Vehicle, EV, Gotion, Japan
EV-a2zs April 10, 2023 April 10, 2023
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