TotalEnergies to set up electric mobility JV with CTG in China
TotalEnergies has agreed to set up a Chinese electric mobility joint venture (JV) in China with state-owned power company China Three Gorges Corporation (CTG), through its two affiliates CTG Capital and CTG Electric Energy.
The 50-50 joint venture will develop electric vehicle (EV) high power charging infrastructure and services in Hubei Province, in central China, through the installation and operation of more than 11,000 high power charge points by 2025.
The joint venture will build on TotalEnergies’ worldwide expertise in electric mobility and CTG’s 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 business-to-business (B2B) customers. 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.
China’s ambition requires rapid expansion of fast-charging network
The growth perspectives of the joint venture are supported by China’s ambition to become carbon ‘net’ neutral by 2060. In the 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.
“We share common and important visions with China Three Gorges — the ambition to reach carbon neutrality, the undeniable willingness to push for renewable power and the enthusiasm to develop electric mobility,” said Alexis Vovk, president, Marketing & Services, TotalEnergies. “Hubei province is a natural ground to launch this cooperation, as both our companies are established there, and to contribute to the development of sustainable mobility in China and to accompany the ongoing growth of electric vehicles in the country. This partnership with CTG opens new doors to TotalEnergies for a long term and widened cooperation with a leader of China’s electric energy.”
Common mission of providing clean energy
“We are very proud to work with the world leading energy group, TotalEnergies, as we share the common mission of providing clean energies to the world,” said Dr Jin Heping, chief information officer, CTG Group, responsible for Technology and Innovation. “New energy vehicles’ charging is an important part of new infrastructures’ construction. It has a broad development prospect, with a strong demand for technological iteration. There is such demand for technological innovation in the fields of big data platforms, equipment system integration and solar energy storage and charging microgrids. Through the cooperation with TotalEnergies, we would like to extend our upstream expertise in clean power generation and power supply to the downstream retail and mobility services business, while creating at the same time a model of technological innovation in the field of new energy vehicle charging. We are looking forward to learn from each other, and to establish a long-term relationship with TotalEnergies in other energy sectors in China and worldwide.”
CTG Corporation, operator of the Three Gorges Dam, is the world’s largest hydro-power producer. It has developed more than 30 gigawatts (GW) of hydro, wind and solar power generation capacities in China and overseas – namely in Europe – over the past five years. TotalEnergies has been present in Wuhan and in Hubei province since 1995, notably through its network of branded fuel service-stations, its lubricant business and its affiliate Hutchinson.
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’s largest EV charging network in July 2021.