In its early years, Chinese battery leader CATL focused on electric vehicles (EVs), riding the explosive growth of the global e-mobility market. The company has since taken a turn, aggressively expanding its energy storage business with a target for storage to generate 50% of its global sales by 2030.
Today, CATL stands as one of the world's largest grid storage suppliers, powering megaprojects such as Synergy's 2.4GW-hour (GWh) Collie Battery in Australia and the 1.4GWh Gemini Solar-Plus-Storage project in Nevada, US.
In an exclusive interview with Power Technology, CATL's managing director of Western Europe, Hank Zhao, and chief technology officer of AC (alternating current) systems, Bruce Li, share how they translate learnings from the company's automotive history to its stationary storage unit. They also discuss the operational realities of energy storage leadership, executive decision-making in a fast-changing industry, and bridging the gap between Chinese technology and European markets.
Hank Zhao (HZ): I joined the company's EV business in 2010 and stayed there for 11 years before moving to the energy storage unit in mid-2021.
When the company was founded, it started with e-mobility and stationary storage as its two main business directions. But I think before 2020, the business scale of storage was much smaller than for EVs, and we didn't see as many opportunities. Then from 2021, there was a rapid boom in demand for energy storage, especially in markets like the US and China.