GCTL Accelerates Energy Transformation by Equipping Customers with New Energy Storage Technology
GCTL, a joint venture between GLP and Contemporary Amperex Technology Ltd. (CATL), the world’s leading battery provider and the largest maker of electric vehicle (EV) batteries, has been actively driving development of energy storage infrastructure in industrial and commercial sectors in China.
China’s CATL Extends Lead as World’s Top EV Battery Maker
Contemporary Amperex Technology Co. Ltd.’s share of the electric-vehicle battery market continues to grow, according to the latest data from Seoul-based SNE Research, which show the Chinese company accounted for 37.1% of global sales in the first 11 months of 2022. GLP partners with CATL through joint venture GCTL to expand the use of clean energy in logistics and transportation.
GLP, a Singapore-based provider of logistics facilities, is making its third industrial acquisition in the U.S. with plans to purchase a $1.1 billion portfolio from Hillwood Development Co. in several phases starting later this year.
Singapore-based logistics fund manager GLP announced today it has agreed to acquire a $1.1 billion US logistics real estate portfolio from Dallas-based Hillwood Development Company.