On 19 February, Envision Greenwise Holdings Limited ("Envision Greenwise Group") announced its cooperation with Hefei Gotion High-tech Power Energy Co., Ltd, a wholly-owned subsidiary of Gotion High-tech Co., Ltd. ("Gotion") in the form of signing two memoranda of understanding, to jointly develop and promote energy storage business and reverse logistics business (e.g. battery recycling) globally. 

According to the filing, Envision Greenwise Group also formed a Joint Venture with GUOXUAN HIGH-TECH (HK) LIMITED, another subsidiary of Gotion, for low-carbon technology research and development, appliance and trade in Hong Kong and worldwide.  

The cooperation provides the parties with access to new technologies and enhances their R&D capabilities. The collaboration will further diversify the parties' product portfolios, catering to a broader range of customer needs, which aligns with sustainable goals of both parties, contributing to a competitive advantage in the energy storage market.