en.Wedoany.com Reported - WeDoAny News, June 3 - Sinopec and BYD signed an industrial and capital cooperation framework agreement in Beijing. The two parties will promote multi-level industrial capital cooperation in three major areas: flash charging network construction, integrated ecological synergy, and upstream and downstream industrial chain coordination. Sinopec Chairman Hou Qijun and BYD Chairman and President Wang Chuanfu, along with their respective teams, jointly attended the signing ceremony.

Strong Alliance to Build a Smart Energy Ecosystem for Fueling and Flash Charging. According to the framework agreement, the two parties will leverage their respective strengths to carry out cooperation in three areas.

First, achieve interconnectivity in the charging network construction field, relying on the existing Sinopec refueling station network to promote the construction and operation of flash charging stations, serving car owners nationwide and globally.

Second, focusing on "people, vehicles, and life," create an "energy supply + automotive services" ecosystem, exploring cooperation in areas such as automotive aftermarket services, and photovoltaic-storage-charging-inspection, further promoting collaboration in membership systems, user insights, and data empowerment.

Third, carry out cooperation in the upstream and downstream of the industrial chain, including automotive and battery materials, vehicle fuel, marine fuel, energy storage, automotive supplies, centralized procurement, and data intelligence.

Sinopec Chairman Hou Qijun stated that Sinopec adheres to the development direction of high-end, intelligent, and green transformation, accelerating the construction of an industrial pattern of "one foundation, two wings, three chains, and four innovations." Fully relying on its comprehensive energy service network and core competitiveness in high-performance automotive materials and battery materials, it continuously provides convenient, clean, and intelligent comprehensive energy services for the public's better travel. We will engage in in-depth cooperation with BYD in areas such as car owner services and data intelligence, jointly promoting the green transformation of China's transportation network.

BYD Chairman Wang Chuanfu stated that BYD has always been committed to driving green energy transformation through technological innovation, connecting the entire chain of energy from acquisition and storage to application by developing solar energy, energy storage, and electric vehicles. With the release of the second-generation blade battery and flash charging technology, BYD's "Flash Charge China" strategy redefines the new energy replenishment system, helping the global automotive industry's electrification process enter a new stage. We will work with Sinopec to build a flash charging network system, create a new generation of "people, vehicles, and life" ecosystem based on the replenishment network, and jointly commit to promoting the new energy transformation and supporting high-quality development.

Previously, the two parties had established a good foundation for cooperation in areas such as refined oil supply and comprehensive refueling station construction. This cooperation not only represents an efficient integration of industry resources but also marks a new stage in the systematic development of their ecosystem.

In the next step, the two parties will continue to leverage their strengths, relying on industrial cooperation to promote multi-level capital cooperation, jointly create a second growth curve, accelerate the formation of new productive forces, and contribute wisdom and strength to building a strong nation and achieving national rejuvenation.

Sinopec is the world's largest oil refining company and China's largest supplier of refined oil and petrochemical products. It has a nationwide energy service network, having built over 30,000 comprehensive refueling stations, over 28,000 Yijie convenience stores, and over 14,000 charging and battery swap stations, with over 300 million omnichannel users and serving 20 million customers daily.

BYD is a global pioneer and leader in the new energy vehicle industry. It continues to make strides in the electrification, intelligence, premiumization, and internationalization of new energy vehicles, ranking first in global new energy vehicle sales for four consecutive years and among the top ten global automotive groups by sales for three consecutive years representing a Chinese brand, with leading R&D capabilities across the entire new energy vehicle industry chain.

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