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China is the world’s CATL to begin with, a battery storage company in Japan, with the Addition of Energy

FILE PHOTO: A sign in Chinese battery maker of Contemporary Amperex Technology Ltd (CATL), is to be seen on the building in Ningde, Fujian province, China, 8th August, 2018. The photo was taken on August 8, 2018. REUTERS/Stringer/File Photo

TOKYO/SHANGHAI (Reuters) – China electric vehicle and battery maker, in a Contemporary Amperex Technology Ltd (CATL) (300750.SZ) said it will begin offering products from homes and factories, and in Japan in the year 2020, as it seeks to expand its global footprint and the diversification of its activities.

The Chinese company will supply the batteries in partnership with Japanese solar company, in Addition to Energy and Resources, who will be responsible for the assembly and installation of the energy storage systems is that they are going to sell it to the Japanese power utilities and other energy service providers (isps, the companies said in a statement.

Tan Libin, the vice-president for the energy storage business unit, CATL, told reporters that the company was looking at Japan as the land of the solar energy market is growing and the feed-in-tariffs, which had been in the guaranteed minimum power prices to encourage solar development will play out later in the year.

CATL, said their system can reduce the cost for households to service providers to pay for their installation, while the excess energy will be stored and will be sent to the city grid.

“We hope to quickly assimilate into the local market through in-depth cooperation with local companies,” says Tan.

CATL, located in the province of Fujian, in the southeast of China, it has strategic alliances with auto manufacturers, including SAIC Motor Corp (600104.SS), Geely (0175.HK), BMW (BMWG.DE and Volkswagen VOWG_p.DE), Toyota Motor Corp (7203.The construction of the very first European production facility in Germany.

It is also expanding its operations into the batteries of ships, and storage systems.

Reporting by Yuka Obayashi in TOKYO, Yilei Sun in SHANGHAI; Editing by Brenda Goh and Christian Schmollinger

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