CATL will provide Primergy with a long-life, high-integration and high-safety outdoor liquid-cooled energy storage cabinet, Ener One, which uses lithium iron phosphate cells with high thermal stability and has a cycle life of 10,000 times.
In addition, CATL just signed another large energy storage order a month ago. On September 22, the company announced that it has reached a cooperation agreement with FlexGen, a US energy storage technology platform and solution provider, and will supply the latter with 10GWh of energy storage products within three years.
According to Xinyu information data, CATL will have the largest market share of global energy storage battery production in 2021, and CATL’s energy storage business contributed 15.457 billion yuan in revenue last year;In the first half of this year, the Ningde era energy storage system achieved operating income of 12.736 billion yuan.
However, compared with power batteries, the current gross profit margin of CATL’s energy storage products is lower, with a gross profit margin of only 6.43% in the first half of this year. But in the future, as the scale of the global energy storage market grows, CATL is expected to achieve leapfrog growth in performance with its production capacity advantages.