In fact, this is regarded by the outside world as a settlement between BYD and Shell. As early as March 2022, BYD and Shell signed a global strategic cooperation agreement to promote energy transformation and jointly improve the charging experience of BYD's new energy vehicle users. The two sides will first start cooperation in China and Europe, and plan to expand this cooperative relationship to the whole world.
Shell and BYD plan to set up a joint venture to develop an electric vehicle charging network in China. The joint venture company is expected to operate more than10,000 electric vehicle charging terminals in Shenzhen, and plans to expand to other cities in China in the future. Shell's shareholding in Shenzhen BYD Electric Vehicle Investment Co., Ltd. may be an entity of the joint venture company.
Outside of China, Shell and BYD will establish a tourism service provider (MSP) partnership in Europe. In the future, Shell will provide member services for BYD's personal and corporate customers, covering more than 275,000 charging terminals on its charging roaming network. Shell and BYD will also jointly develop fleet solutions and exclusive charging services for BYD customers in Europe.
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