Lithium battery companies have been making significant inroads in overseas markets. This year, under the trend of "going global," battery enterprises have frequently participated in overseas exhibitions, achieving on-site order signings at each event.
On October 23-24, several Chinese battery companies, including Gotion High-Tech and ChuNeng New Energy, showcased at the Australian International Energy Exhibition, securing numerous intent orders.
Gotion High-Tech made a successful debut in Australia, signing with local developers in the renewable energy field for large-scale energy storage and other renewable energy projects, with future collaboration expected to exceed 4GWh. In addition to energy storage orders, Gotion also received sales orders and annual pre-sale agreements for products such as mobile charging vehicles. These mobile charging vehicles are already being exported to countries and regions including the United States, Japan, Germany, Singapore, Thailand, the Netherlands, and Indonesia.
Gotion's overseas performance has been impressive this year. For instance, in the energy storage market alone, Gotion has secured over 10GWh of orders. In March, Gotion signed a cooperation agreement in Tokyo with Daiwa Energy and CO2OS for energy storage station development and operation in Japan, with Gotion providing 1GWh of energy storage battery products.
In June, Gotion signed an agreement with Spain’s Phi4Tech and Unicorn RE in Huangshan to collaborate on comprehensive energy solutions in the European energy sector, with plans to deploy energy storage stations in Spain over the coming years.
Also in June, Gotion debuted at a European exhibition, securing energy storage orders totaling 2GWh from CFGE (Changfeng Green Energy) and Delta PCS. The former focuses on the Europe-Africa region, while the latter targets markets including South Africa, Spain, and Chile.
In September, Gotion attended the U.S. International Solar and Energy Storage Exhibition, signing contracts on-site for 2GWh of energy storage products and establishing strategic partnerships with several local raw material suppliers.
In October, Gotion signed with an Australian renewable energy developer for a cooperation expected to exceed 4GWh in scale.
In terms of performance, Gotion's overseas orders have consistently increased, accelerating revenue and profit growth. According to Gotion’s 2024 half-year report, revenue reached RMB 16.794 billion, with net profit attributable to the parent company at RMB 271 million and non-recurring net profit at RMB 49 million, showing growth across all lines. Notably, product and regional income structures have improved, with a focus on power and energy storage battery systems and an increased contribution from overseas markets. Revenue from overseas regions (including Hong Kong, Macao, and Taiwan) reached RMB 5.527 billion, accounting for 32.91% of total revenue, an increase of 80.48% year-on-year, with a gross profit margin of 21.12%, up 27.61% year-on-year. This trend indicates that Gotion’s regional income structure will continue to be optimized, with the share of overseas revenue expected to further increase.
While overseas expansion is a growth area, it poses significant challenges, particularly in terms of capacity support, product performance, and operations and maintenance capabilities. For instance, on October 24, news emerged that some top Chinese enterprises have suspended construction of two battery plants in Germany, with no timeline for resumption. Additionally, global political dynamics and policy restrictions act as barriers to international expansion. Even industry leader CATL has encountered challenges with its U.S. market layout. Nevertheless, companies that have achieved relative success overseas offer valuable lessons:
Exploring more open cooperation models such as technology licensing and joint ventures. Companies like CATL, EVE Energy, and Gotion have adopted such approaches to mitigate policy risks.
Expanding indirectly to difficult markets such as North America. For example, EVE Energy has established capacity in Malaysia to support its coverage of the European and American markets.
Strengthening operations and maintenance capabilities and building a global service network. ChuNeng New Energy, for instance, has established a comprehensive after-sales service network covering 13 countries and regions, including the United States, Australia, the United Kingdom, France, and Germany.
Enhancing technology iteration capabilities to build competitive advantages. As battery technologies diversify, positioning in areas like fast-charging technology, which is gaining traction, is essential.
Focusing on the development from zero-carbon manufacturing to zero-carbon factories and cities to achieve a complete zero-carbon product production cycle. CATL, for example, has launched an all-scenario zero-carbon solution to support low-carbon transformation through technological innovation and new business models.
Source：https://mp.weixin.qq.com/s/T8ek3RX3Yh_7RW6MXi_Xiw
