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BP signs an electrifying EV charging deal in China

02/08/2019
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BP has this week joined forces with DiDi, the world’s leading mobility platform, to create a new charging network in China which is home to the world’s biggest and fastest-moving market for electric vehicles.

The agreement, which takes the form of a joint venture, will see the development of EV charging hubs throughout China. 
BP signs an electrifying EV charging deal in China
(Image via BP).

DiDi (Didi Chuxing) is the world’s leading multi-model transportation platform, offering users a full range of app-based options, including ride-hailing, automobile solutions sharing, and other services. Its platform already has approximately 550 million users and around 600,000 EVs are running on it in China.

This will be combined with BP’s extensive experience gained from running its global fuels retailing and convenience business, which has a significant and rapidly-growing presence in China.

In addition to developing EV charging hubs, the joint venture will also expand into loyalty and convenience offerings and a variety of fleet services in the near future.

BP and DiDi have already opened a pilot site in Guangzhou in the Guangdong province, with ten fast-charging units, ranging from 60-120kW. This site will migrate into the joint venture once live. The venture aims to expand rapidly, with an ambition to quickly become the leading EV charging provider in China.

China is the world’s largest and fastest-developing EV market with around 50% of the world’s BEVs today. By today, BP expects around 80% of EV charging in China to be done at destination, forecourt and fleet hub charging points.

Commenting on the new joint venture, Tufan Erginbilgic, BP’s Downstream chief executive said:

“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.”
BP is aiming to be the number one EV charging provider in China
BP has committed to being a leading fuel provider for both conventional ICE and electric vehicles worldwide. Following the acquisition in 2018 of BP Chargemaster, the UK’s leading electric vehicle charging company, BP is now beginning the roll out of ultra-fast chargers at sites across the UK. BP has also invested in innovative fast-charging battery technology firm StoreDot.

In China, this work already includes an investment in NIO Capital’s investment fund focused on China’s new energy vehicle ecosystem and also an equity investment in PowerShare, which offers an online platform connecting EV drivers, charge point operators and power suppliers.

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BP signs an electrifying EV charging deal in China - Time to read 3 min
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