BYD Company Ltd. (Shenzhen, China) has signed a global framework cooperation agreement with Enel Green Power (EGP, Rome, Italy), a multinational power company and leading integrated player in the world’s power industry.
The agreement signed will pave the way for possible cooperation projects in electrified transportation and energy storage aimed at residential, commercial and industrial applications, all based on BYD’s proprietary Iron-Phosphate batteries, reads the press release.
“Renewable energy storage and power management have become more intelligent and portable through energy storage systems; and urban public transportation can largely be electrified around the world by promoting zero-emission electric vehicles,” said Wang Chuanfu, Chairman and President of BYD.
BYD and Enel have agreed to evaluate business opportunities in markets of interest; leverage the technological solutions developed by both companies on vehicle charging and electrified mobility; and explore integrated solutions and synergy for prospective offers to interested municipalities in the areas where BYD or Enel are present.
Furthermore, the two companies will explore financing opportunities in order to provide turnkey solutions combining BYD electric buses and Enel’s charging infrastructure and electricity supply.