Chinese battery giant CATL continues to expand its presence in the energy storage segment. The company announced the signing of a new agreement with Shanghai electrical equipment manufacturer Shanghai Sieyuan Electric. The parties formalized a three-year memorandum under which they plan to implement projects with a total capacity of 50 GWh.
CATL emphasized that the partnership is built on a division of competencies and should increase the efficiency of the entire supply chain. This concerns not only the energy storage systems themselves, but also related infrastructure, including equipment for power transmission and distribution. According to the participants’ plan, over the next three years they will establish coordinated work “from start to finish” to ensure stable supplies and support the high-quality development of the industry.
A separate emphasis is placed on the engineering side. The companies intend to more actively exchange technologies and jointly carry out projects, accelerating the large-scale deployment of storage systems in new power grids.
Sieyuan, based in Shanghai, develops energy technologies and manufactures equipment. According to the company’s website, its revenue for 2024 amounted to 15.5 billion yuan, and its geographic presence covers more than 100 countries and regions. The headcount stood at 9,456 employees, and investment in research and development reached 1.11 billion yuan. Cooperation with CATL began back in 2022, and the current document effectively deepens existing ties.
For CATL itself, the energy storage business is becoming increasingly prominent in its overall structure. In the first half of 2025, revenue from energy storage systems reached 28.4 billion yuan, which corresponds to 15.87% of the total figure of 178.9 billion. The main income still comes from traction batteries for electric vehicles: 131.6 billion yuan, or 73.56%. It is also reported that shipments of CATL’s 587 Ah large-format batteries for storage systems amounted to 2 GWh, and by year-end growth to 3 GWh is expected. (source: cnevpost.com)
