BP and Didi Chuxing to develop a network of EV charging hubs across China through new joint venture

BP and Didi Chuxing to develop a network of EV charging hubs across China through new joint venture

(PRESS RELEASE) LONDON, 2-Aug-2019 — /EuropaWire/ — BP have agreed to form a new joint venture to build electric vehicle (EV) charging infrastructure in China with Didi Chuxing, the world’s largest market for electric vehicles. Both companies plans to develop a network of EV charging hubs across China.

Didi is the world leader in multi-modal transportation platform. The company offers full range of app-based options, including ride-hailing, automobile solutions sharing, and other services. Currently, DiDi provides ride-hailing services in Brazil under the 99 brand, operates DiDi-branded mobility services in Mexico, Chile, Colombia and Australia, and provides taxi-hailing service in Japan through a joint venture. Approximately 550 million users and around 600,000 EVs are running on its platform in China. DiDi is committed to solve the world’s transportation, environmental and employment challenges with smart transportation innovations.

BP operates its fuels retailing and convenience business in 18 countries globally. BP has over 18,700 retail sites and with rapidly-growing presence in China.

The joint venture will provide EV charging services to DiDi’s drivers and the public with the development of standalone, high-quality and reliable charging hubs. The partners also plans to expand the partnership into loyalty and convenience offerings and other fleet services in the near future.

“As the world’s largest EV market, China offers extraordinary opportunities to develop innovative new businesses at scale and we see this as the perfect partnership for such a fast-evolving environment. The lessons we learn here will help us further expand BP’s advanced mobility business worldwide, helping drive the energy transition and develop solutions for a low carbon world.”

“Combining BP’s global retail capability, EV charging expertise and experience with DiDi’s unrivalled mobility service platform, our partnership will aggregate demand and provide high-quality, fast, reliable and safe charging for DiDi drivers and the public in China. DiDi is already converting to electric vehicles and has a very large user base, so we expect to drive high utilisation of charging assets from Day One,” commented Tufan Erginbilgic, BP’s Downstream chief executive.

“We look forward to combining our strengths to create a robust EV charging network for China, promote the growth of the new energy automotive industry, and provide better experience for car owners across the country,” commented Cheng Wei, Chairman and CEO of DiDi.

The venture aims to expand rapidly, with an ambition to quickly become the leading EV charging provider in China. The companies already opened a pilot site in Guangzhou in the Guangdong province that has ten fast-charging units, ranging from 60-120kW. The site will join the joint venture once live.

China has around 50% of the world’s battery electric vehicles today, it is the world’s largest and fastest-developing EV market. Around 80% of EV charging in China is expected to be done at destination, forecourt and fleet hub charge points by 2030.

BP started the roll out of ultra-fast chargers at sites in the UK following the acquisition in 2018 of BP Chargemaster, the UK’s leading electric vehicle charging company. The company also invested in StoreDot, an innovative fast-charging battery technology firm. BP is committed to be the leader in providing fuel for both conventional and electric vehicles in its businesses worldwide.

In January 2019, BP invested in leading integrated hardware and software solutions provider for electric vehicle (EV) charging in China, PowerShare. PowerShare offers an online platform connecting EV drivers, charge point operators and power suppliers. In July 2018, BP invested $10 million in the NIO Capital US Dollar Fund to support the fund’s work exploring opportunities in China’s new energy vehicle ecosystem.

“China offers tremendous growth opportunities for BP. Partnering with DiDi enables BP to actively contribute to China’s fast-growing EV charging market with differentiated offers, and also to further expand our business footprint in the country,” said Xiaoping Yang, BP China chairman and president.

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For press information:

BP press office, China: +86 (0)10 6589 3878, bpchinapress@bp.com
BP press office, London: +44 (0)20 7496 4076, bppress@bp.com

SOURCE: BP p.l.c.