China's CATL to help Japanese homes store solar power cheaply

EV battery giant looks to rev up market hampered by high prices

Solar panels line roofs of houses in Ota, a city near Tokyo. Demand for storage batteries is expected to grow as the government phases out feed-in tariffs for solar power. © Reuters

SHOHEI KONO, Nikkei staff writer

July 26, 2019 05:56 JST

TOKYO -- China's CATL, the world's largest maker of electric car batteries, will start selling products for homes and businesses in Japan in 2020, with an eye toward tapping a market stunted by high prices.

Under the arrangement announced Thursday, CATL will provide the components for storage batteries and Japanese partner Next Energy & Resources will be in charge of assembly. They aim to kick off sales by next summer.