On June 13, CATL signed an agreement with NETA Auto, 360 Security Technology Inc., and LynkVertx on the strategic cooperation for the V2G Smart Energy Demonstration Project in Tongxiang, east China's Zhejiang province. 

Under the agreement, the four parties will open up in-depth cooperation on the R&D of V2G technology and business development, and will make a joint effort to build a new industry ecosystem of "vehicle-pile-grid-user-society". To this end, CATL will provide high performance and long service life battery cells for NETA to ensure the stable operation of the V2G system and to meet the performance requirements of users for regular use of vehicles. In addition, a V2G smart energy demonstration project will be built in Tongxiang Smart Factory Park to boost scale development of the Vehicle-to-Grid industry. 

The rapid development of new energy vehicles and the wide application of supercharging technology result in increasing challenge of overload and load fluctuation for the grid. As such, employing electric vehicles as energy storage and providing bidirectional charging based on V2G technology have become new trends and opened up new opportunities for the industry. 

Supported by the competitiveness in the research and development of high-performance, long service life batteries, CATL is committed to offering higher-quality batteries for the industry, thus to eliminate people's concerns about the degradation of battery life caused by V2G and to encourage more consumers to play a part in the development of V2G applications and share the benefit of technology. Moreover, CATL will work with its partners to promote the development of V2G industry and accelerate the energy transition and sustainable development.