TotalEnergies and China Three Gorges Corporation (CTG, through its two affiliates CTG Capital and CTG Electric Energy) have signed an agreement to establish a Joint Venture in electric mobility in China.
This equally owned company will develop Electric Vehicle (EV) high power charging infrastructure and services within the Hubei Province, through the installation and operation of more than 11,000 high power charge points by 2025.
The JV will build on TotalEnergies’ worldwide expertise in electric mobility and CTG strong capability in green energy production and supply.
The two companies intend to develop co-branded high power charging hubs and standalone stations, open to the general public, equipped with 60 kW to 120 kW power charge points and with an average hosting capacity ranging between 20 to 50 vehicles each.
The partners will also build dedicated charging stations on the premises of B2B customers, to meet their needs. Finally, in line with the partners’ respective ambitions to carbon neutrality, the electricity used to power this new network will be produced mostly from renewable sources.
The JV’s growth perspectives are supported by China’s ambition to be carbon net neutral by 2060. In a context of a fast-growing energy demand for mobility, the EV penetration rate is expected to increase dramatically over the coming years, requiring a rapid expansion of the existing fast-charging network.
With this announcement, TotalEnergies pursues its development in electric mobility in major cities throughout the world, with a large portfolio of EV charge points currently in operation or in the process of being installed: Amsterdam and its region (22,000), Antwerp (3,000), Paris (2,300), London (1,700).
This is also the second development in Asia in recent months, following the acquisition of Singapore largest EV charge network (1,500) in July 2021.