Li Auto signs deal to speed up charging facility buildout

Li Auto has signed a deal with state-owned Shoucheng Holdings to accelerate the construction of charging infrastructure in cities, and plans to set up a joint venture.

Li Auto (NASDAQ: LI) has signed a deal with a Chinese state-owned company to accelerate the construction of charging facilities as it aims to reach 2,000 supercharging stations by the end of the year.

The carmaker signed a cooperation agreement with Shoucheng Holdings, a subsidiary of Beijing-based state-owned Shougang Group, on August 22, according to a statement today.

The two will jointly fund Beijing Shoucheng Supercharging Energy Technology Co Ltd, said Beijing-based Li Auto, without mentioning further details about the joint venture.

The two companies will promote the construction and operation of inner-city charging infrastructure based on Shoucheng's site resources and power-acquisition capabilities, Li Auto said.

The newly built charging stations will be connected to different charging platforms to enhance the convenience of charging services, according to the company.

Among the charging stations with high-quality environments, additional services including temporary rest rooms, convenience stores, and car showrooms will be provided.

Executives from both companies also witnessed the launch of their first pilot partner supercharging station together.

As of August 22, Li Auto has 728 supercharging stations, 233 of which are located in urban areas, according to the company.

Li Auto aims to have 2,000 supercharging stations in China by the end of 2024, providing more than 10,000 charging piles and covering 90 percent of the core urban areas of China's Tier 1, 2, and 3 cities, according to previously announced plans.

The collaboration with Shoucheng is the latest partnership Li Auto has entered into on EV infrastructure development.

On June 18, Li Auto signed a cooperation agreement with PetroChina Kunlun Wanglian Electric Energy Technology Co Ltd.

Li Auto and PetroChina Kunlun will work together to promote the construction of charging infrastructure along highways and within cities nationwide, as well as the interconnection of their charging platforms, according to a statement in June.

Li Auto signs partnership deal to boost charging facility buildout

Li Auto's number of charging stations

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