ENGIE signed an agreement to acquire minority stake in the Shanghai-based company, EVChong. Founded in 2014, EVChong is a private company specialized in electric vehicle-related services from installation to maintenance of charging points, and battery research and development.
This investment confirms ENGIE’s ambition to support energy transition and electric mobility in China. With EVChong’s 25,000 charging points, ENGIE Group EV charging business now lies for about 30% in China. This will enable further ENGIE offers on China’s electric vehicle infrastructure market, the largest in the world.
Charlotte ROULE, ENGIE China CEO, said: “We are very pleased to partner with EVChong, a leading charging services provider in China for private electric vehicles with major high-end car manufacturer customers. With this investment, ENGIE will now manage directly or through this partnership 85,000 charging points worldwide and strengthen its offering for its customers’ benefit. The synergies with the Group’s subsidiaries, EVBox on charging points and Laborelec on battery research, will help boost EVChong’s fast development in the field of mobility and battery development.”
Mr. David Zhang, co-founder and CEO of EVChong, expressed his confidence in this cooperation: “It is our great pleasure to start partnering with ENGIE. Leveraging on the Group’s expertise in EV charging and battery research, we’re confident to make sustainable and rapid progress in the near future”.
ENGIE is investing in key companies to pursue development of integrated electric mobility offers which meet cities’ and territories’ needs in terms of air quality improvement by reducing CO2 emissions. The Group is in particular reinforcing its position on the three most dynamic electric mobility markets worldwide – China, the United States and Europe – and plans to increase its charging stations in the future.