Guangzhou (JLC), September 11, 2023 – PetroChina has acquired 100% stake of Potevio New Energy, a Chinese state-owned electric vehicle (EV) charging firm, PetroChina said on September 8, without disclosing the cost of the acquisition.
Owning over 20,000 public charging piles, Potevio New Energy was one of China's first state-owned companies engaged in EV charging operations. Its business scope includes EV technologies, power batteries, charging services, equipment and carbon trading.
This is a significant move for PetroChina to expand its nationwide charging network and shift to a comprehensive service provider that covers oil, gas, hydrogen, electricity and non-conventional energy, PetroChina said.
In the first half of 2023, production and sales of new energy vehicles (NEVs) hit record highs, growing 42.4% and 44.1% year on year, respectively, PetroChina noted. The boom in the NEV sector created more demand for charging facilities, it said.
In the next three years, PetroChina will leverage the window to complete the overall planning of its charging facilities throughout China, striving to become a leading company in battery charging and swapping, PetroChina added.
