[Asia Economy Reporter Jang Hyowon] Sonid (CEO Choi Simyeong) announced on the 25th that it has acquired a 50% stake in the North American distribution corporation for lithium-ion battery packs, JetOneGV America, making it a subsidiary and officially entering the North American small ESS (Energy Storage System) and lithium-ion battery pack distribution business.
JetOneGV America was established in 2019 in Atlanta, USA, and has been targeting the small ESS and lithium-ion battery pack market together with major distributors on the US East and West coasts. In May, it signed a Memorandum of Understanding (MOU) with the domestic lithium-ion battery pack manufacturer NanoInTech to exclusively supply lithium-ion battery packs to the US market. Additionally, it is responsible for overall distribution tasks such as various promotions and vendor management.
According to global energy consulting firm Wood Mackenzie, the global ESS market is expected to grow at an average annual rate of over 30% until 2030. Especially, the US ESS market, which installed 758MW (megawatts) in the first quarter of this year alone, has grown more than threefold compared to the previous year, reaching $5.5 billion (approximately 6.8 trillion KRW). Currently, some US state governments mandate ESS installation for power operators, and commercialization of small residential ESS is also being promoted, so the market size is expected to expand further.
JetOneGV America has signed a tripartite MOU with major domestic electric vehicle battery companies and lithium-ion battery pack manufacturers to develop and commercialize electric golf carts equipped with lithium-ion battery packs and exclusively launch them in the North American market. The company explained that it will begin actively targeting the US local market by showcasing the product at the PGA Show, the world's largest golf equipment industry exhibition held this month in Florida.
Sonid CEO Choi Simyeong said, “Through the acquisition of JetOneGV America as a subsidiary, we have secured distribution infrastructure including 4,000 top dealers and about 20,000 lower-tier dealers, as well as cart manufacturers in North America such as the US and Mexico,” and added, “We expect this to serve as one of the solutions for securing waste batteries necessary for the battery recycling business we are actively promoting recently.”
Meanwhile, Sonid has signed an MOU with Recycliko, which was listed on the US stock market this year, to jointly promote battery recycling business in Korea, and is actively advancing the battery recycling business by securing a pilot site for a battery regeneration plant.
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