On July 11, Guangzhou Zengcheng Runan New Energy Co., Ltd. was officially established, with Fan Yizhen as the legal representative and a registered capital of 2.8 million RMB. The company's business scope includes engineering and technical research and experimental development, emerging energy technology R&D, IoT technology services, online energy metering technology R&D, battery sales, and engineering management services.
Equity information shows that the company is wholly owned by Times Green Energy Co., Ltd. (hereinafter referred to as "Times Green Energy"), a wholly-owned subsidiary of CATL.
Times Green Energy has formed nearly 20 new companies
Times Green Energy was established in December 2006 and is one of the main carriers of CATL's new energy business. It focuses on investment, construction, and operation of new energy wind, solar, and storage, green power trading, and carbon neutrality consulting, among other areas.
In recent years, CATL has accelerated its layout in the wind power field through Times Green Energy. In April 2023, it invested 2.5 billion RMB to establish Fujian Runshi Offshore Wind Power Co., Ltd., and in October of the same year, it developed the Ningde Deepwater Area A Offshore Wind Farm project through this company, with a total investment of 10.463 billion RMB.
Entering 2024, Times Green Energy continues to expand. Since January this year, nearly 20 new companies wholly owned by Times Green Energy have been established, mainly in April and May. Geographically, these new companies are distributed in Guangdong, Yunnan, Jiangsu, Shandong, Tianjin, Hubei, Anhui, Jiangxi, and other regions, covering wind power, photovoltaics, solar power, and new energy technology R&D.
In addition to independently investing in the establishment of subsidiaries, in June this year, Times Green Energy "took over" Liyang Leye Photovoltaic Energy Co., Ltd. under LONGi Green Energy. Currently, LONGi New Energy Co., Ltd. has withdrawn from the shareholders' ranks, making Times Green Energy its wholly-owned controlling shareholder.
CATL Deepens Layout in South China
CATL's layout in South China has actually started long ago. Notably, in 2015, CATL invested in Guangdong Bangpu Cycle. After multiple capital increases, Guangdong Bangpu Cycle has become its holding subsidiary, serving as a platform for battery recycling and other businesses.
For instance, in October 2021, Guangdong Bangpu Cycle cooperated with Hubei Yihua to build an integrated battery material project. The total investment of this project is as high as 32 billion RMB, covering an area of about 5,500 acres, and planning to build a super-large-scale production base with an annual output of 360,000 tons of iron phosphate, 220,000 tons of lithium iron phosphate, 180,000 tons of ternary precursor and materials, 40,000 tons of lithium cobalt oxide, 40,000 tons of regenerated graphite, and 300,000 tons of battery recycling capacity.
Subsequently, in January 2023, Guangdong Bangpu invested in an integrated new material industry project at the Datang New Material Industrial Park in the Fobei Zhanxin Industrial Park, Foshan City, Guangdong Province. The total investment of the project does not exceed 23.8 billion RMB. The construction period is four years, and once completed, it will have a recycling capacity of 500,000 tons of used battery materials.
Besides battery recycling, CATL is also expanding its battery swapping business in South China. In mid-June 2023, CATL signed a strategic cooperation agreement with Shenzhen, focusing on comprehensive cooperation in key areas such as new energy vehicle battery swapping, electric ships, new energy storage, green parks, financial services, and trade.
Following this, CATL established presences in Longgang and Pingshan. Times Electric Vehicle Services signed a strategic cooperation framework agreement with Longgang District to carry out comprehensive cooperation in battery swapping, energy storage, green parks, and funds, mainly serving the home mini car market. Times Qiji (Shenzhen) settled in Pingshan, with business covering three modules: Qiji Swap Block, Qiji Swap Station, and Qiji Cloud Platform, targeting the heavy-duty truck battery swapping market.
On April 7 this year, CATL continued to invest in Shenzhen, establishing a wholly-owned subsidiary, Shenzhen Times New Energy Supply Chain Co., Ltd. The business scope includes supply chain management services, battery manufacturing, sales of metal-based composite materials and ceramic-based composite materials, sales of photovoltaic equipment and components, sales of graphite and carbon products, and wholesale of auto parts.
It is undeniable that CATL's layout in South China is becoming increasingly complete. As these projects are implemented and enter the market, its industry-leading position will become even more prominent.
Source：Start Lithium
