Recently, Contemporary Amperex Technology Co., Limited ("CATL") and Guangxi LiuGong Machinery Co., Ltd. ("LiuGong") signed a ten-year strategic cooperation framework agreement in Liuzhou, South China's Guangxi Zhuang Autonomous Region, making LiuGong the first partner in the field of construction machinery to sign a ten-year strategic cooperation agreement with CATL. Robin Zeng, chairman and CEO of CATL, and Zeng Guang'an, chairman and CEO of LiuGong, signed the agreement on behalf of both parties.

According to the agreement, CATL and LiuGong will give full play to their respective advantages and jointly develop the electric construction machinery market. The two parties will carry out business cooperation and development in whole product lines and whole value chains across the globe in the areas of product research and development, industry standards, market promotion and after-sales services, and jointly promote the formulation of technical standards for construction machinery batteries. In addition, the two parties will jointly focus on providing the most advanced and most competitive electrified products to the global construction machinery customers. Furthermore, the two parties will also jointly explore new fields such as smart manufacturing and zero carbon emissions to promote and lead the industry's high-quality development.

CATL and LiuGong have been maintaining close cooperation with fruitful results. The signing of the agreement marks the official launch of all-round strategic cooperation between CATL and LiuGong to jointly promote the green development of the industry. The establishment of the deepened cooperation between the two parties will help accelerate the electrification transformation of the construction machinery industry and promote the early realization of the goals of full electrification and carbon peaking and neutrality.