- BYD signed an agreement with Sinopec to advance the construction of its flash charging stations by relying on the latter's massive network.
- The tie-up will accelerate BYD's "Flash Charging China" strategy, helping it build 20,000 flash charging stations by the end of this year.
BYD (HKEX: 1211) has partnered with Chinese fossil fuel giant Sinopec to advance its ambitious charging infrastructure expansion.
The two industry giants signed an industrial and capital cooperation framework agreement in Beijing on June 3 to carry out collaboration in areas including flash charging network construction, ecosystem integration, and supply chain synergy, according to a statement from Sinopec.
Under the agreement, the primary task for both parties is to achieve deep interconnection in the construction of the charging network.
BYD will leverage Sinopec's massive existing network of service stations to promote the construction and operation of flash charging stations.
Sinopec chairman Hou Qijun and BYD chairman and president Wang Chuanfu, along with their respective teams, attended and witnessed the signing ceremony.
Sinopec currently boasts a nationwide energy service network in China, having built more than 30,000 comprehensive service stations.
The company also owns over 14,000 charging and battery swapping stations, serving an average of 20 million customers daily.
Sinopec will rely on its comprehensive energy service network to continuously provide integrated energy services to the public, Hou said in the statement.
He said that the two parties will engage in deep cooperation to jointly promote the green transformation and upgrading of China's transportation network.
BYD is committed to driving the green energy revolution through technological innovation and connecting all segments of the entire energy supply chain, Wang said.
With the release of its second-generation Blade Battery and flash charging technology, BYD is redefining the energy replenishment system with its "Flash Charging China" strategy, he said.
Sinopec's first BYD megawatt flash charging station, the Longzhuyuan service station in Shenzhen, has already become a model for their early-stage cooperation, the oil giant said.
In addition to infrastructure construction, the two companies plan to build a new ecosystem and will achieve further interconnection and sharing in membership systems and user insights.
In terms of supply chain synergy, their collaboration will extend to upstream and downstream segments such as automotive and battery materials, automotive lubricants, and energy storage.
On March 5, BYD officially launched its massive "Flash Charging China" strategy, planning to build 20,000 flash charging stations nationwide by the end of 2026.
The company at that time unveiled the world's highest-power mass-produced flash charging pile for a single connector, which boasts a maximum charging power of up to 1,500 kW.
Combined with the latest second-generation Blade Battery technology, vehicles equipped with this system take just 9 minutes to charge from 10% to 97%.
Even in extreme cold environments of minus 30 degrees Celsius, the total charging time is only 12 minutes, greatly improving energy replenishment efficiency.
As of May 27, BYD had built more than 6,100 flash charging stations in total, making it the automaker with the most self-built charging stations in China.
To further expand its green mobility ecosystem, BYD has also recently made significant progress in the mobility services sector.
On May 9, BYD signed a large-scale procurement framework agreement for up to 100,000 vehicles with Car Inc.
As part of the partnership, the two parties will install BYD's flash charging facilities at eligible Car Inc rental store locations.
