BYD's FinDreams Battery signed a strategic cooperation agreement with Zero Carbon Engine Technology Group, focusing on new energy projects in Mongolia. The two parties will collaborate across four areas—green transportation, fast-charging infrastructure, energy storage systems and smart public transit—to drive Ulaanbaatar's green and low-carbon transformation.
Agreement Signed: Focused on Mongolia's Green City Development
On September 5, 2026, FinDreams Battery and Zero Carbon Engine Technology Group Co., Limited signed a strategic cooperation agreement. This cooperation marks FinDreams Battery's important layout in the Central Asian and North Asian markets, with the goal of transforming Ulaanbaatar, the capital of Mongolia, into a green, low-carbon smart city.
FinDreams Battery is a wholly-owned subsidiary of BYD, established in 2019, focusing on the R&D, production and sales of new energy vehicle power batteries and energy storage systems. As of August 2025, FinDreams Battery ranked first globally in battery pack supplier installations.
Notably, this cooperation is not FinDreams Battery's first foray into the Mongolian market. In August 2026, FinDreams Battery had already signed a strategic cooperation memorandum with Ulaanbaatar, focusing on comprehensive green city development. The agreement with Zero Carbon Engine further implements and deepens the previous memorandum.
Four Cooperation Pillars: Panoramic Layout from Transportation to Storage
Under the agreement, the two parties have identified four core cooperation areas:
Scale-Up of New Energy Vehicle Adoption
- Expand the application scale of electric vehicles in Mongolia
- Optimize urban transportation structure
- Reduce carbon emissions from the transportation sector
Fast-Charging "Green Station" Network Construction
- Deploy a fast-charging infrastructure network
- Continuously improve supporting capabilities for new energy vehicles
- Address charging convenience pain points
Battery Energy Storage Systems (BESS)
- Implement battery energy storage system projects
- Optimize urban energy structure
- Enhance energy efficiency and grid stability
"Sky Shuttle" Smart Public Transit Project
- Leverage BYD battery technology to upgrade urban transportation systems
- Build a smart public transportation demonstration project
- Improve urban travel efficiency and experience
Who Is Zero Carbon Engine?
Zero Carbon Engine Technology Group Co., Limited is FinDreams Battery's cooperation partner for the Mongolia project. The company focuses on new energy and low-carbon technology, and the cooperation with FinDreams Battery provides battery technology and industry chain support for its project落地 in Mongolia.
FinDreams Battery stated it will fully leverage its full industry chain strengths in new energy vehicles, energy storage and smart transportation, combining these with Ulaanbaatar's local resources and policy support to deepen pragmatic cooperation in green and low-carbon fields and ensure projects deliver results.
Mongolia Market: Demand and Opportunities for Green Transformation
As a resource-based economy, Mongolia faces challenges from a single energy structure and environmental pressures from urbanization. Ulaanbaatar has long been troubled by air pollution from winter coal heating. The introduction of new energy technology offers Mongolia a viable path for low-carbon transformation.
For Chinese new energy industry chain companies, Mongolia's market appeal lies in:
- Policy space: The Mongolian government promotes green development and renewable energy utilization
- Geographic proximity: Convenient China-Mongolia border logistics reduce equipment and vehicle transportation costs
- Demonstration effect: Successful cases in Mongolia can be replicated in neighboring Central Asian and Russian markets
| Cooperation Dimension | FinDreams Battery Strength | Mongolia Market Demand |
|---|---|---|
| Battery Technology | Global #1 in battery pack installations | Electrified transportation infrastructure |
| Energy Storage | Full industry chain capability | Grid stability and clean energy storage |
| Smart Transportation | Mature solutions like Sky Shuttle | Urban public transit upgrade |
| Project Implementation | Existing MOU with Ulaanbaatar | Green city transformation policy support |
FinDreams Battery's Global Footprint
FinDreams Battery's global expansion is accelerating. In addition to the Mongolia project, in July 2025 FinDreams Battery also signed a memorandum of understanding with BHP, the world's largest listed mining company, and CATL to explore battery solutions for mining equipment and transportation, focusing on heavy mining equipment, railway vehicle battery development and fast-charging infrastructure.
FinDreams Battery has set a target: achieve carbon neutrality across the entire value chain by 2045. The company implements the "PIONEER" sustainable development principle and the "12348" carbon neutrality action framework, establishing a full-lifecycle zero-pollution closed-loop management system covering everything from raw material extraction and manufacturing to battery recycling and cascading utilization.
Industry Significance: A New Path for Chinese Battery Companies Going Global
FinDreams Battery's layout in Mongolia demonstrates a differentiated path for Chinese battery companies going global:
- From product sales to system export: Not just selling batteries, but exporting complete solutions covering vehicles, charging, energy storage and smart transportation
- From single projects to strategic partnerships: Forming long-term stable cooperative relationships through MOUs with local governments and JV partnerships with enterprises
- From developed countries to emerging markets: With trade barriers in Europe and the US, emerging markets such as Central Asia, Mongolia and Southeast Asia have become important incremental markets
For automotive industry participants tracking the Central Asian and Russian markets, FinDreams Battery's Mongolia case provides an observation window: China's new energy industry chain is systematically exporting technology and capacity to neighboring countries through a "green city integrated solution" model.
For more going-global strategy analysis, visit EX1000.COM.
