## Shanghai Electric Strengthens Global Alliances and Propels Sustainable Industrial Advancements at CIIE 2024
Shanghai Electric (SEHK:2727, SSE:601727), a leading global provider of energy and industrial solutions, has taken a significant step forward in its global collaboration journey at the 2024 China International Import Expo (CIIE). The company signed new memorandums of cooperation and strategic agreements with Carrier Group and Svenska Kullagerfabriken AB (SKF) China Sales Co., Ltd., further solidifying its strategic partnerships worldwide. This move comes as Shanghai Electric intensifies its R&D capabilities to pioneer next-generation industrial and energy solutions.
These new commercial alliances with Carrier Group and SKF (China) Sales Co., Ltd. (“SKF”), further synergizing their innovation in advanced and efficient energy technologies, will allow Shanghai Electric to leverage the partnership to develop and enhance offerings designed to empower global decarbonization efforts.
“Shanghai Electric remains committed to forging meaningful and forward-looking alliances globally, sharing the limitless possibilities of technological progress,” said Wu Lei, President of Shanghai Electric. “We are dedicated to exploring new opportunities and deepening ties with partners to collectively address emerging industry challenges and explore the frontiers of sustainable technology.”
The strategic agreement with Carrier Group marks the 37th year of collaboration between the two industry leaders. Under the new framework, Shanghai Electric and Carrier will combine their expertise to develop solutions that align with China’s carbon neutrality and carbon emission reduction goals, focusing on indoor environmental control, industrial heat pump applications, and sustainable development. Recognizing the strategic moment to accelerate environmental progress, both companies aim to leverage their respective strengths to drive their partnership into new areas of energy-efficient infrastructure and low-carbon initiatives.
Meanwhile, Shanghai Electric’s collaboration with SKF will broaden the reach and depth of both companies’ contributions to industrial innovation. By leveraging SKF’s cutting-edge capabilities in bearings, seals, and lubrication systems, the partnership aims to optimize Shanghai Electric’s product structure and enhance competitiveness in an increasingly dynamic market. The collaboration will also include initiatives in comprehensive energy and medical equipment, where both companies will work to deliver customized solutions that support China’s national goals in new energy and high-end manufacturing.
By reinforcing alliances with organizations across its supply chain, Shanghai Electric continues to prioritize technological innovation and remains committed to breakthroughs that enhance and optimize industrial solutions. Through continuous engagement and strategic collaboration, the company aspires to be at the forefront of promoting a resilient, sustainable, and advanced industrial landscape for future generations.
