Treet Battery Limited (TBL), a Pakistani manufacturer of lead-acid batteries, has entered into an agreement with Highstar Digital Energy Technology (Guangdong) Co., Ltd, a Chinese technology company, for the import and sale of lithium-ion batteries in Pakistan.
The development comes as the battery industry in Pakistan is experiencing growing demand for energy storage solutions, particularly in the renewable energy sector. Renewable batteries are gaining prominence as the government promotes renewable energy adoption.
“We wish to inform that Treet Battery Limited has entered into an agreement with Highstar Digital Energy Technology (Guangdong) Co., Ltd (“Highstar”) (a limited liability company incorporated in the Peoples Republic of China) for the import and sale of lithium-ion batteries in Pakistan,” the listed company said in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
Treet Battery Limited, a division of the well-known Treet Corporation, entered Pakistan’s battery manufacturing industry with a focus on high-quality lead-acid batteries. Leveraging its parent company’s established reputation in various industries, Treet Battery aims to expand its presence in the automotive and energy storage sectors.
The company primarily manufactures batteries for automobiles, including cars, motorcycles, and trucks, as well as batteries for backup power systems and renewable energy storage.
Terming the agreement a “strategic step”, Treet Battery said the agreement paves the way for the company to enter into the fast-growing lithium-ion battery segment, supplementing its existing operations in lead-acid batteries.
“The collaboration with Highstar, a recognised global manufacturer of energy storage solutions, positions TBL to diversify its product portfolio and capture emerging opportunities in renewable energy, electric mobility, and sustainable power applications,” read the notice.
Treet Battery was of the view that by introducing lithium-ion technology to the local market, the listed company seeks to strengthen its competitive position, broaden its revenue streams, and create long-term value for shareholders.
“The management is confident that this development will support future growth and enhance investor confidence in the company’s direction,” it said.
