Multi-faceted Cooperation Creates Win-win! BatteroTech and Guangxi Liugong Group Machinery Sign Agreement of Battery Procurement Intent

JIAXING,China,May 29,2024 -- On March 20th,2024,Tsingshan Industry and Guangxi Liugong Group Machinery Co.,Ltd concluded a strategic cooperative agreement,and BatteroTech,an affiliate of Tsingshan Industry,executed an agreement of battery procurement intent with Guangxi Liugong Group Machinery. The signing ceremony was attended by the following leaders: Mr. Xiang Guangda,Chairman of Tsingshan Industry,Mr. Zeng Guangan,Secretary of the Party Committee,Chairman and CEO of Guangxi Liugong Group Machinery,Mr. Wu Huadi,President of Eternal Tsingshan Group,Mr. Hu Xiaodong,Chairman of Yongqing Technology,Mr. Feng Ting,Vice President of Yongqing Technology and BatteroTech Chairman,Mr. Huang Haibo,Vice Chairman of Guangxi Liugong Group Machinery,Mr. Luo Guobing,Senior Vice President of Guangxi Liugong Group Machinery,etc.

In the presence of Mr. Xiang Guangda,and Mr. Zeng Guangan,Chairman of Guangxi Liugong Group Machinery,Tsingshan Industry and Guangxi Liugong Group Machinery signed a strategic cooperative agreement,and BatteroTech entered into an agreement of battery procurement intent with Guangxi Liugong Group Machinery.

According to the cooperative agreements,the concerned parties in each project are required to expand their reach of new energy businesses into construction machinery by vigorously aligning with the national low-carbon and carbon emission reduction requirements. Additionally,they shall keep pushing forward the market-oriented development of electrified construction machinery equipment and fostering cooperation across the value chains in response to product and market demands. More extensive coordination and cooperation in global businesses between the signing parties are expected.

Leaders from Guangxi Liugong Group Machinery visited BatteroTech on March 19th,and were shown around in the automatic production workshops and digital exhibition halls of BatteroTech. The representatives gained profound knowledge about BatteroTech's state-of-the-art production processing,automated production equipment,and accomplishments to date.

Mr. Feng Ting,BatteroTech Chairman,started the meeting by warmly receiving the leaders from Guangxi Liugong Group Machinery. He underlined that "BatteroTech aspires for speedy project implementation and expansion of our business cooperation with Guangxi Liugong Group Machinery on the premise of our mutually intensive communication in 2023. Our first cooperative project will land in Indonesia,presenting a precious opportunity to foster a model for future cooperation. Meanwhile,we will do our utmost to create and support cooperative demands."

Mr. Luo Guobing,Vice President of Guangxi Liugong Group Machinery,showed high optimism for this cooperation,"Being the leading electric product manufacturer in construction machinery,we will engage in further mutually beneficial cooperation withBatteroTech. We will seal a comprehensive partnership with BatteroTech,a superior battery supplier that we need for facilitating our electric product supplies. Together,we will bolster globalized cooperation in our areas of expertise and may embrace more diversified cooperation in other product portfolios."

For more information,please visit BatteroTech's official website: https://en.batterotech.com/

BatteroTech Co.,Ltd. is a lithium battery manufacturer dedicated in the new energy industry which is invested by Tsingshan Industry,one of the Fortune 500 companies.

BatteroTech is mainly engaged in the research and development,production and marketing of lithium batteries,battery modules,battery systems,etc. and committed to providing world-class solutions and services for new energy vehicle manufacturers and electric power investors who aim to achieve the goal of "Carbon Peaking and Carbon Neutrality". The company has set up R&D centers and manufacturing bases respectively located in Shanghai and Jiashan.