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.
“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.
