CALB Group (HKG:3931) signed a joint venture agreement with Handan Industrial Investment and Handan Urban Investment and Operation Group to establish a 4 billion yuan battery-focused company, according to a Wednesday filing with the Hong Kong Exchange.
Under the agreement, CALB will own 60% of the venture through a 2.4 billion yuan capital injection. The Handan partners will contribute 1.6 billion yuan for the remaining 40% stake.
The new venture, tentatively named CALB (Handan), will specialize in EV batteries, energy storage systems, and integrated energy solutions.
The joint venture will be treated as a subsidiary of CALB, and its financial results will be included in the company's consolidated statements.
The EV battery manufacturer said the move supports its strategic growth in the energy storage and mobility markets.
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