BYD partners with Shell to expand electric vehicle charging network across China and Europe
- The two firms will develop EV charging networks in China, starting with a network of more than 10,000 charging points in Shenzhen
- The partnership will start in China and Europe, before extending to other regions across the globe
The Warren Buffett-backed carmaker and the oil and gas major plan to form a joint venture to develop electric vehicle (EV) charging networks in China, starting with a network of more than 10,000 charging points in Shenzhen before expanding to more locations across China, according to a joint statement on the strategic cooperation agreement released on Thursday.
BYD’s battery-powered electric vehicles and plug-in hybrid electric vehicles will also be allowed to access 275,000 charging points across Shell’s network in Europe. Shell hopes to operate over 500,000 EV charging points worldwide by 2025.
The partnership will start in China and Europe, before extending to other regions across the globe, according to the statement. Shell and BYD also intend to collaborate on global research and development in the areas of battery performance and advanced charging.
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“The automotive industry is undergoing significant changes, and the development of new energy vehicles is an irresistible trend,” said Wang Chuanfu, chairman and president of BYD in a statement.
“BYD is willing to cooperate with Shell and seize the historic chance of new energy vehicles, providing consumers with high-quality [charging services] and new energy vehicles, [while] creating vital development opportunities.”
The carmaker sold nearly 600,000 electric passenger vehicles last year, and has achieved a cumulative production and sales volume of over 1.5 million units, according to the company.
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“Shell has significant ambitions to both grow our mobility business in China as well as to help drivers globally to decarbonise by switching to EVs. This partnership represents a significant step forward in both of these ambitions,” said István Kapitány, global executive vice-president of Shell Mobility in a statement.
New infrastructure for EV charging is much needed, said Jason Wong, executive chairman of Shell Companies in China.
“By working with more partners collectively we will be able to build an ecosystem to accelerate the energy transition and make contributions to China’s 2030 and 2060 carbon targets,” said Wong.
