Another Chinese Company to Start Battery Production in Pakistan

Quantum Data Technologies Limited (PSX: QTECH) and China's Guangzhou Great Power Energy & Technology Co. Ltd. have signed a strategic agreement to produce advanced battery energy storage systems in Pakistan. QTECH shared this news with the Pakistan Stock Exchange on October 14, detailing the agreement's scope. The partnership will focus on various battery types, including residential, commercial, industrial, utility-scale, and specialized applications for data centers, AI infrastructure, electric vehicles, and other high-energy-demand sectors.

Guangzhou Great Power Energy & Technology, a Shenzhen-listed company (300438) with a market value of around $4 billion, is renowned for its expertise in lithium batteries and energy storage solutions. QTECH highlighted the importance of dependable energy supply and security for Pakistan's technological progress, viewing the collaboration as a means to innovate and foster long-term shareholder value.

This agreement builds on a recent non-binding memorandum of understanding signed by Kohinoor Energy Limited and China's Hebei Juhang Energy Technology Group, also aiming to explore joint ventures in lithium-ion battery production and energy storage systems in Pakistan.