· The two companies will cooperate to jointly offer electric buses and other transport services to interested municipalities in areas where Enel or BYD are present
· Energy storage projects will focus on residential, commercial and industrial applications based on BYDs lithium batteries
Rome, June 28th, 2016 Enel has signed a global framework cooperation agreement with Chinese corporation BYD, a leading electric vehicle and lithium1 battery manufacturer, for the worldwide development of joint projects in electric mobility and energy storage. The agreement, signed in the Chinese city of Shenzhen by Enels Head of Innovation and Sustainability Ernesto Ciorra and Wang Chuanfu, Founder and Chairman of BYD, will pave the way for possible cooperation projects targeting electric buses and other transport services, as well as residential, commercial and industrial applications based on BYDs lithium batteries.
We are pleased to announce this new collaboration with BYD, given its scale and proven leadership in the battery and electric vehicle businesses, said Ernesto Ciorra, Head of Innovation and Sustainability at Enel. Enel and BYD will make use of their respective skills and geographic presence in order to support their extensive efforts in promoting the electrification of public transport, as well as new customer services, based on stationary energy storage technologies. Enel is proud to offer its wide-ranging experience in charging infrastructure, as well as its large customer base and diversified geographical footprint. Partnerships with leading technology companies like BYD are key to Enels innovation strategy, which looks at developing sustainable, innovative energy solutions for the benefit of our customers and society as a whole.
Regarding electric mobility, Enel and BYD have agreed to leverage on the technological solutions developed by both companies on vehicle charging and electric mobility, as well as to explore integrated solutions and synergies for a possible joint offer to any interested municipalities in the areas where Enel or BYD are present. Furthermore, Enel and BYD will jointly explore financing opportunities in order to sell turnkey solutions composed of BYD electric buses and Enels charging infrastructure stations and electricity supply.
On energy storage, Enel and BYD have agreed to evaluate business opportunities in markets of interest, using BYD technology and solutions for stationary applications for residential, commercial and industrial purposes.
1 Precisely, lithium iron-phosphate batteries. Iron as a core component ensures safety, stability and long battery life.
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