PetroChina acquires EV charging firm Potevio New Energy
Published on: Sep 12, 2023
The purchase comes after the company established a new department for the development of e-mobility capabilities in Fujian province.
PetroChina’s parent company CNPC has acquired Potevio New Energy, an electric vehicle (EV) charging firm, one of the first state-owned companies dedicated to the EV charging sector.
One of the Chinese oil giants has purchased 100% of the EV charging company, report Reuters. Potevio was founded in 2010 and operated approximately 50,000 charging points across more than 50 Chinese cities by 2021.
PetroChina has also set up a new division located in the Fujian province to focus on the development of EV charging capabilities. Last year, the company also partnered with auto group SAIC Motor Corp. alongside CATL to set up a joint venture dedicated to supply swappable batteries for EVs.
E-mobility holds a priority place for China in its expansion into alternative fuels, alongside its hydrogen efforts. This is also part of its development goals to reach carbon neutrality by 2060.
