(Yicai Global) March 20 -- Guoxuan High-Tech, a Chinese lithium battery maker, has joined hands with Edison Power, a Japanese energy storage developer, to enter the Japanese market for new and recycled batteries.

Guoxuan and Edison will decide on their strategy based on market demand, and the planned sales target is one gigawatt-hours of batteries during the first year, the Hefei-based firm said in a statement today. During the second year, the annual goal is doubled.

The Chinese company will contribute cells, modules, and a building management system to the partnership while the Japanese firm will manage customer relations, operations, maintenance, as well as engineering procurement and construction services. Moreover, Guoxuan will also work with Edison to establish a recycling system for batteries in Japan.

The Japanese firm has a long experience in the market as Edison started to make batteries in 1991 and more recently, it ventured out into solar power and biomass energy.

The added collaboration had little impact on Guoxuan's share price as it [SHE: 002074] closed 0.6 percent up at CNY27.45 (USD4).

Editor: Emmi Laine