I grade exams together with a colleague but disagree with their grading. What should I do? Recently, I have graded exams (50 pcs.) together with a colleague from another department. I felt like my colleague was awarding too many points for wrong/incomplete answers. For example, awarding points for just writing information of the question (value and units of parameters) on the answer sheet; or awarding points for copying one of the formulas on the formula sheet to the answer sheet while not specifically described in the grading template

During the grading of the exams I have discussed this with my colleague and decided to mostly follow his 'point awarding system' so that it does not create an unfair grading between sub-groups of the total population. Afterwards, I have discussed this again, but I feel like my colleague is not keen to change his grading style.

What are the next steps that I could take? Is it necessary that the whole university should have the same grading style?

ps: The course is given by their department and I have helped since this year because it overlaps with my expertise. It has a pass rate of ~50%.

ps2: It's not that his point awarding system is so loose that students with a 3/10 will suddenly be awarded a 6/10 but it will certainly change the outcome of passing the course for some students.
Have each person grade different questions, not different students.

Consistency in grading is important, and it is unfair to the students if their grades depend substantially on the allocation of their work to a grader.  For this reason, if you must split grading duties with another colleague for a particular assessment item, it is best to split the grading duties for the questions rather than splitting the grading of the students.  So, for example, one person grades Q1-3 on all papers and the other person grades Q4-6 on all papers.  That way each student is graded by the same person for the same question.  (Logistically, each of you should grade your questions on half the papers, then swap.)

It sounds like this ship has already sailed, and you have made the rookie mistake of splitting grading for the students, with different people marking different students.  It also sounds like you have tried to discuss this with your colleague, but you have exhausted attempts to change his grading.  In that case, even if your own grading style is superior to your colleague, adapting to his grading level for this assessment is probably a reasonable second-best option, simply to maintain consistency of the level of grades awarded.  In future, try to avoid the problem all together by splitting grading over questions instead of over students.