Caterpillar and First Solar,Inc.launched a ______ where First Solar will design and manufacture a pre-engineered turnkey package for use in remote microgrid applications,such as small communities and mine sites.The package will feature Cat-branded solar panels manufactured by First Solar and will include a balance of system components.The products will be sold exclusively through Caterpillar's extensive worldwide dealer network.

Question

Quizplus · Accepted Answer

The launch of the pre-engineered turnkey package for use in remote microgrid applications between Caterpillar and First Solar is best described as a strategic alliance. This is because both companies have come together to combine their expertise and resources to create a product that they can sell exclusively through Caterpillar's dealer network, which can help them achieve a competitive edge in the market. A strategic alliance is a partnership between two or more companies that work together to achieve mutual benefits through a combination of resources, capabilities, and knowledge.