TotalEnergies [NYSE: TTE] and China Three Gorges Corporation Establish Joint Venture

TotalEnergies SE [NYSE: TTE] revealed that it has collaborated with three Gorges Corporation to launch a Joint Venture (JV) in electric mobility in China. This new Joint Venture between the firms will manufacture Electric Vehicle (EV) high power charging infrastructure and services within the Hubei Province, through the installation and operation of more than 11,000 high power charge points by 2025.

TotalEnergies disclosed that it has shared the same and important visions with China’s Three Gorges to reach carbon neutrality, the definite commitment to move forward to renewable power, and the eagerness to develop electric mobility. TTE believes that this collaboration with CTG unlocks new doors to TotalEnergies for a long term and expanded collaboration with a leader of China’s electric energy.

Furthermore, it has been disclosed that the JOV will establish on TotalEnergies’ worldwide knowledge in electric mobility and CTG’s strong capability in green energy production and supply. The two firms are planning to develop co-branded high power charging hubs and individual stations, accessible to the general public. All the stations will be provided with 60 kW to 120 kW power charge points and with an average hosting capacity ranging between 20 to 50 vehicles each.

In addition, the collaborators will also develop dedicated charging stations on the grounds of B2B customers, to fulfill their requirements. To fulfill the vision of carbon neutrality of the partners, the firms have decided to produce electricity mostly from renewable resources. The firms also disclosed that Hubei province is a natural ground to start this collaboration, as both of TTE’s firms are established there.