UK energy group BP has signed an agreement to acquire a stake in Guangzhou Aulton New Energy Technology to expand its involvement in the Chinese battery swapping market, according to local reports.
Guangzhou Aulton New Energy, a subsidiary of Aulton New Energy Automotive Technology, will operate as a joint venture with BP providing “safe and efficient battery swapping services” for taxis, ride hailing companies and private battery powered vehicles in Guangzhou.
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Richard Bartlett, head of future mobility and solutions at BP, said in a statement: “We want to provide the fastest, most convenient charging solutions for our customers and this partnership will enable fleet customers to swap a depleted EV battery for a fully charged one in just one minute or less.”
He added: “This is revolutionary and we’re excited to be part of it together with Aulton and OEMs. Providing innovative charging [services] like rapid battery swapping will help meet China’s fast-growing EV needs.”
BP would provide its battery recharging and safety expertise, which is currently being rolled out worldwide, while Aulton would contribute battery-swapping expertise and a network. Bartlett said the JV would aim to launch its battery swapping network in other cities across China.
BP already had a number of joint ventures operating fuel retailing and convenience stores in China.
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