BMW and Mercedes-Benz to set up charging network joint venture with eye on China’s surging EV market
- Joint venture to provide ‘fast, convenient, reliable and tailor-made charging solutions’, BMW says
- Mercedes-Benz and BMW are ‘positioning early’ and are likely to reap the rewards of China’s growing EV charging industry in the ‘medium to long-term future’: Euromonitor
German luxury carmakers BMW and Mercedes-Benz will establish a joint venture to operate a high-power charging network in China.
The venture will aim to install at least 1,000 high-power charging stations with about 7,000 charging piles in the world’s largest electric vehicle (EV) market by the end of 2026 to “provide Chinese customers with premium charging services”, BMW said in a statement on its website on Thursday.
The first batch of stations is expected to open next year in regions with higher EV adoption rates, and more stations will be built nationwide soon, the carmakers said.
The venture will procure electricity generated from renewable sources in regions where conditions allow, and the charging network will be open to the public, according to the statement. The customers of both German carmakers will enjoy more exclusive features.
“Both BMW and Mercedes-Benz will apply the expertise gained from global and Chinese charging operations, as well as the in-depth understanding of the Chinese new energy vehicle [NEV] market, to deliver fast, convenient, reliable and tailor-made charging solutions for the Chinese market,” the statement said.
The equal joint venture is subject to regulatory approvals, the companies said.
