(MENAFN) South Korea's top battery maker, Samsung SDI Co. confirmed that it signed the final deal to form a joint energy storage company with a Chinese counterpart as it taps deeper into the world's second-biggest battery market, QNA reported.
Samsung SDI chief executive signed the agreement with the president of Hefei-based Sungrow Power Supply Company, to set up a joint firm that develops and produces energy storage systems (ESS), the company said.
The final agreement came about three months after the two companies inked a memorandum of understanding (MOU) in August.
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