The Swiss and Chinese power engineering firms ABB and BYD have revealed a collaboration to develop new storage technologies.
The two organisations said the development of new technologies for on- and off-grid solar storage and electric vehicle technology charging would be among the areas of focus for the joint venture.
BYD, partially owned by US investor Warren Buffett, is already active in the solar and storage fields, with module, battery storage and electric vehicle manufacturing arms, among others.
ABB has already collaborated with BYD, developing a charger for the Denza electric car built by BYD and Daimler.
ABB chief executive Ulrich Spiesshofer said: “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. With this next step in our successful partnership, we live our promise: 'Power and productivity for a better world' in utilities, industries, and transport and infrastructure.”
Other than solar and electric vehicles, the collaboration is also looking to develop storage technologies for marine applications.