PetroChina acquires Potevio New Energy, an EV charging company.

PetroChina Acquires Potevio ​New ‍Energy, Expanding into Electric​ Vehicle Charging

PetroChina, China’s top oil ⁤and gas company, has made another significant investment in the lower-carbon sector by acquiring 100% of Potevio New Energy Co Ltd, an electric ⁣vehicle (EV) charging⁤ firm. ​This move demonstrates PetroChina’s⁣ commitment to sustainable⁤ energy solutions.

Established in 2010, Potevio New Energy​ was one ⁢of the first state-owned companies in China to‌ focus on building and operating EV charging networks.⁣ With over 50,000 charging ⁢points across more than 50 Chinese⁢ cities, it has played‍ a crucial ‍role in supporting the country’s growing EV market.

PetroChina’s recent acquisition of Potevio New Energy further strengthens its position​ in the EV charging sector. The cost ‌of the acquisition⁤ has not been disclosed at this time.

In addition to this ⁣acquisition, PetroChina has also established a new entity in Putian,‍ Fujian⁢ province, dedicated to investing in and operating EV charging‌ facilities. This strategic move⁢ aligns with PetroChina’s long-term vision for sustainable transportation.

Furthermore,⁢ PetroChina has been​ actively collaborating with leading Chinese ‌auto group SAIC Motor Corp. and battery firm⁣ CATL to develop ⁢swappable batteries for ​EVs. These initiatives highlight PetroChina’s commitment to driving the adoption of electric mobility in ⁤China.

China’s state energy ⁣giants, including ⁣PetroChina, are ramping up ‌their investments in⁤ low-carbon ‌businesses ⁢such as renewables, hydrogen, and electric mobility. These efforts are in line with China’s ambitious‌ goal of ⁢achieving carbon neutrality by 2060.

Source: ⁤ OANN

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