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ABB and China’s BYD form global alliance in energy storage solutions for a better world

Partnership deepens ties between BYD, China’s leading energy storage company and electric vehicle pioneer, and ABB, the globally leading power and automation group

Zurich, Switzerland and Beijing, China, Sept. 5, 2014 – ABB, the leading power and automation technology group, and BYD Co., Ltd., announced today a strategic collaboration to jointly develop new solutions for energy storage building on their complementary strengths.

ABB’s leading products and technology for grid storage, electric vehicle charging and integrated marine systems, combined with BYD’s knowledge in battery technology, can broadly address worldwide energy storage requirements. This collaboration will accelerate the introduction of new solutions for electric vehicle charging, the fast ramp up of renewables combined with energy storage in off-grid and on-grid solutions as well as battery and energy storage solutions for the fast growing marine segment.
ABB and BYD share a common vision of sustainable power and industry as well as transport solutions. This stimulated the initiative of forming a unique global partnership aimed at creating sustainable value for the customers all around the world.

“We are pleased to build on our achieved joint success and broaden our excellent cooperation with BYD. This next step will bring closer together two leading companies with highly complementary expertise and market access for electric energy storage,” said ABB Chief Executive Officer Ulrich Spiesshofer. “With this next step in our successful partnership, we live our promise: ‘Power and productivity for a better world’ in utilities, industries and transport & infrastructure.”

The scope of the collaboration focuses on the following applications:

Grid-connected energy storage
Micro-grid applications
Solar energy
Marine applications
ABB is a world leader in power electronics and energy storage systems for utilities, industry and transport & infrastructure. In 2014, ABB introduced its EV fast chargers in China, supplying DC fast chargers for the new Denza electric car developed by BYD’s joint venture with Daimler.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people. ABB has a full range of business activities in China, including R&D, manufacturing, sales and services, with 19,000 employees, 36 local companies, and an extensive sales and service network across 90 cities.

BYD is a leading high-tech enterprise in China specializing in the information technology industry, including rechargeable batteries, mobile phones, IT components and assembly, traditional and electric automobiles and new energy products with unique technologies, such as solar power stations, stored energy stations, LEDs, electrical fork-lifts and other things. BYD now employs more than 180,000 employees, owns 12 industrial parks across China totally covering 15,000,000 square meters in Shenzhen, Beijing, Shanghai, Xi’an, Changsha, Huizhou and Nanjing. It has branches and offices around the world, including the United States, Europe, Japan, Hong Kong and other regions.

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.