During French President Macron's visit to China, as part of the economic and trade cooperation between the two countries, two large Chinese and French energy companies, Tianneng Battery Group Co., Ltd., and Saft Battery Co., Ltd., owned by France's Total Group, jointly helped the global new energy project to be established in Changxing, Zhejiang Province.

Zhang Tianren, chairman of Tianneng Group, said in his welcome speech that both Tianneng Group and Total Group belong to the energy industry, and both have a solid business foundation, rich management experience and strong brand strength. The establishment of Tianneng Saft Energy Co., Ltd. is the result of the combination of our two companies. Since their first meeting in 2017, after many exchanges and consultations, the two sides have finally decided to set up a joint venture to cooperate in the areas of electric vehicles, lithium solutions for energy storage systems and integrated systems. The establishment of the joint venture is a major measure for Tianneng Group and Total Group to achieve resource sharing, complementary advantages, mutual benefit and common development, and also marks the phased results of cooperatin between the two sides. For Tianneng, this cooperation is also an important opportunity to promote the transformation and upgrading of Tianneng, technological innovation and business model innovation, and is of milestone significance in the history of Tianneng's development.

The potential production capacity of Tianneng Saft Energy Co., Ltd. is 5.5 gigawatt hours (GWh). Saft owns 40% of it, while Tianneng Energy Technology Co., Ltd., which is owned by Tianneng Group, holds the rest. 

The new joint venture will focus on developing, manufacturing and selling reliable lithium-ion batteries, modules and high-end battery packs for the Chinese and global markets. Electric bicycles, electric vehicles and energy storage solutions will become the main target markets. Driven by the sales of electric vehicles and the development of renewable energy, the two sides are committed to improving the production capacity and efficiency of the Changxing plant to meet the growing demand in the future.