China National Electric Equipment Group established an energy storage company and joined hands with CATL to seek common development

China National Electric Equipment Group officially established an energy storage company in Shanghai, integrating the resource advantages of its subsidiaries Xuji Group, Pinggao Group, and Shandong Electric Power, and investing with companies such as CATL. The newly established energy storage technology company has a registered capital of 2 billion yuan and aims to build a leading enterprise in the energy storage business of central enterprises.