GLP and CATL Announce Joint Venture to Expand New Energy Applications
GLP has signed an agreement with CATL, the world’s leading battery provider and the largest maker of electric vehicle batteries, to create a new platform aimed at expanding the use of new energy through asset-as-a-service offerings and advancing sustainability in logistics and transportation.
Combined strengths from both companies to expand new energy initiatives in logistics and transportation through asset-as-a-service model
Leveraging GLP’s global scale and strong asset management capabilities, the joint venture will launch products and services to provide new energy solutions across businesses
The joint venture will tap into GLP’s ecosystem to test the viability of autonomous vehicles in logistics management
Ningde and Singapore, 24 September 2020 – GLP has signed an agreement with Contemporary Amperex Technology Ltd. (“CATL”), the world’s leading battery provider and the largest maker of electric vehicle (“EV”) batteries, to create a new platform aimed at expanding the use of new energy through asset-as-a-service offerings and advancing sustainability in logistics and transportation.
The partnership will leverage the scale and strong capabilities of GLP’s unique logistics ecosystem business model in China and CATL’s extensive expertise in the development and manufacturing of new energy assets and energy storage systems, the joint venture will explore a range of opportunities including creating smart energy systems for commercial properties, providing renewable energy to logistics assets and expanding energy storage capabilities for rooftop solar panels. The companies will also test the viability of autonomous vehicles in logistics management and transportation and jointly develop green smart supply chain hubs.
Ming Mei, co-founder and CEO of GLP, said: “GLP is committed to investing in innovative new technologies that can transform and modernize industries. Partnering with CATL will extend our asset-as-a-service model to green energy asset management and accelerate the replacement of traditional energy with green energy, bringing the logistics and transportation industry into a new and more green era. Renewable energy is part of GLP's strategy to enhance asset values and provide technology and services to help customers improve the efficiency of their operations."
Robin Zeng, Founder, Chairman and CEO of CATL, said, “GLP is at the forefront of creating high-quality business ecosystems around its vast infrastructure network. We believe this new partnership is highly complementary and will open up new opportunities to develop innovative technologies and catalyse next-generation new energy services and solutions to meet the needs of our customers.”
CATL is a global leader in the development and manufacturing of lithium-ion batteries, with businesses covering R&D, manufacturing and sales in battery systems for new energy vehicles and energy storage systems. In 2019, the company's EV battery sales volume reached 40.25 GWh worldwide, and making it the world leader in annual EV battery consumption volume (source: SNE Research). It has a portfolio of high-profile, multinational clients including BMW, Volkswagen, Ford, and GM.
About GLP
GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Our combined investing and operating expertise allow us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, and the U.S. and have US$89 billion in assets under management in real estate and private equity funds.
GLP is committed to investing in sustainable energy solutions that create a more sustainable ecosystem, enhance the value of our assets and create value for our customers by improving efficiency and reducing their reliance on traditional sources of energy. Learn more at glprop.com.
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Media Contact: Faye Kwan |
Investor Contact: Craig Duffy Managing Director, Fund Management Tel: +852 3959 7009 Email: cduffy@glprop.com |
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