(Bloomberg) — Chinese billionaire Xiang Guangda’s battery company is hunting for more US investment opportunities despite mounting geopolitical tension between the world’s economic juggernauts. REPT BATTERO Energy Co., a unit of Xiang’s Tsingshan Holding Group Co., this week opened an office in California, marking its first US outpost.
REPT “is surely giving full respect to the world’s second largest energy storage market,” Chairman Hui Cao said during an interview. Although a specific target hasn’t yet been set, the aim is for the US to “contribute more than 10%” to REPT’s revenue.
The US energy-storage market represents a potentially vast opportunity for REPT, which currently counts China, Europe and Southeast Asia as its biggest revenue drivers, Cao said. “We believe the future is bright” in the US, he added.
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