GLP forms JV to expand new energy initiatives in commercial properties

GLP forms JV to expand new energy initiatives in commercial properties

Global investment manager GLP has signed an agreement with Chinese Contemporary Amperex Technology Ltd. (CATL), a battery provider and the largest maker of electric vehicle (EV) batteries, to form a joint venture which aims to expand new energy initiatives in logistics and transportation through asset-as-a-service model.

The joint venture plans to create smart energy systems for commercial properties, provide renewable energy to logistics assets and to expand energy storage capabilities for rooftop solar panels.

”The partnership will leverage the scale and strong capabilities of GLP’s unique logistics ecosystem business model in China and CATL’s extensive expertise in the development and manufacturing of new energy assets and energy storage systems,” said GLP in a statement.

The companies also intends to test the viability of autonomous vehicles in logistics management and transportation and jointly develop green smart supply chain hubs.

“GLP is committed to investing in innovative new technologies that can transform and modernize industries. Partnering with CATL will extend our asset-as-a-service model to green energy asset management and accelerate the replacement of traditional energy with green energy, bringing the logistics and transportation industry into a new and more green era. Renewable energy is part of GLP’s strategy to enhance asset values and provide technology and services to help customers improve the efficiency of their operations,” said Ming Mei, co-founder and CEO of GLP.

Robin Zeng, Founder, Chairman and CEO of CATL, said, “GLP is at the forefront of creating high-quality business ecosystems around its vast infrastructure network. We believe this new partnership is highly complementary and will open up new opportunities to develop innovative technologies and catalyse next-generation new energy services and solutions to meet the needs of our customers.”