Shanghai Kuaibu New Energy Technology (KBVIP) of China signed its first photovoltaic (PV), battery storage and electric vehicle (EV) charging pilot project agreement with Intretech on Wednesday.
KBVIP provides battery storage and super charging service solutions worldwide while Intretech Hungary Ltd. is a subsidiary of Intretech that focuses on intelligent manufacturing system with a high level of informatization and automation.
Balazs Gazso, state secretary at the Ministry of Technology and Industry, said that the development of different charging technologies and energy storage solutions is very important for both the industry and people of Hungary.
The cooperation between KBVIP and Intretech Hungary "will promote the future economic strength of Hungary," he said.
Kong Jian, founder of KBVIP, said that the company is following in the footsteps of Chinese battery manufacturer CATL, which announced a 7.34-billion-euro (7.25 billion U.S. dollars) investment in eastern Hungary in August.
The agreement signed with Intretech Hungary is KBVIP's first overseas project and the new energy market in Hungary and Europe has a huge potential, he said.
"In 2017, in response to China's Belt and Road Initiative, Intretech set up its European headquarters in Hungary, and introduced the world's most intelligent manufacturing technology and R&D capabilities to the country," Wei Zifeng, vice president of Intretech Hungary, said.
Wei said he was very excited about entering the new, very important renewable energy sector.
The strategic partnership between Intretech Hungary and KBVIP will aim to help resolve the current shortages of energy storage and EV super charging stations, and will help Hungary and Europe move towards a more sustainable and renewable future, he said.
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