According to the agreement, in the principle of "mutual benefits, complementary strengths and shared development", CSG Energy Storage Technology and NIO Power will give full play to their respective advantages, and comprehensively cooperate in fields such as virtual power plants (VPP), battery swap stations, and battery cascade utilization and recycling, so as to better aggregate and coordinate resources like charging and swapping stations, energy storage stations, and controllable loads onto the VPP platform to provide load shifting, frequency regulation and demand response services to the power grid, improving the efficiency and effectiveness of asset operations.
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