China’s BYD, the world’s fourth largest car manufacturer, is looking at getting into marine.
Subsidiary BYD Energy Storage has signed a memorandum of understanding with Corvus Energy, a market leader in marine energy storage systems (ESS), to establish a strategic collaboration aimed at advancing next-generation battery solutions for the maritime sector.
The MoU combines BYD Energy Storage’s scale and technological leadership in LFP batteries with Corvus Energy’s expertise in marine ESS applications.
“This MoU represents a significant step forward in our ambition to remain the market leader in high-quality marine battery systems,” said Ole Jacob Irgens, head of EMEA and Asia at Corvus Energy. “By combining Corvus’ deep maritime understanding and extensive experience in marine battery installations with BYD Energy Storage’s scalability, innovation in LFP technology, and strong global supply chain, we are well positioned to bring new products to market faster and meet the evolving needs of the shipping industry.”
BYD has shipping exposure, having built up a fleet of eight car carriers in recent years.
Other automotive brands are eyeing shipping’s green transition as an opportunity. Last week, Hyundai Motor signed a multilateral MOU with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and Pusan National University to develop and commercialise hydrogen fuel-cell systems for vessels. Japanese car giant Toyota has also developed a fuel cell system for maritime applications.
