HONGKONG – China Petroleum & Chemical Corp. (Sinopec) announced on August 23 that it will develop an EV charging business on the basis of its current gas station network.
Sinopec is a member of the EV Industry Alliance of Centrally Administered Enterprises, which was set up by the State Assets Supervision and Administration Commission on August 18. Zhou Shulin, Sinopec chairman, said that setting up EV charging stations is the responsibility that Sinopec should take in the Alliance.
The media predict that construction of EV charging stations will start first in Beijing. Sinopec Beijing and Beijing Capital Science & Technology Group announced earlier this year to build a JV to expand current gas stations into new service centers for both fuel filling and electric charging. However, an insider from Sinopec told reporters that the first such service station has not been completed.
As the largest oil refiner and retailer in China, Sinopec now possesses more than 50 percent of the nationwide oil retail station market.