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Remove from my Reading ListVolkswagen Group Components and DU-POWER establish a joint venture in China
Volkswagen Group Components and the start-up Shanghai DU-POWER New Energy Technical Co., Ltd. plan to work together to produce flexible quick charging stations in China.
An agreement to this effect was signed by representatives from both companies in Suzhou, China. Series production of the flexible quick charging stations is currently scheduled to start in the second half of 2020. Establishing production with a local partner is a key step in the rapidly growing electric vehicle market.
“A comprehensive charging infrastructure is the key to the success of e-vehicles. The planned joint venture with DU-POWER therefore represents a significant milestone as we continue to make progress along the path to electric mobility. The innovative design of our flexible quick charging station has huge potential in China, not least because of the rapid growth of electric mobility,” commented Thomas Schmall, CEO of Volkswagen Group Components.
“The electrification of the global automotive industry is a megatrend. As an ambitious high-tech company with a competent technical development core, we will work with Volkswagen to create a solid foundation to support the success of electric vehicles. The partnership for establishing a joint venture in China enables us to collaborate close on the technical aspects of the project to provide flexible, reliable and efficient solutions for the charging infrastructure,” remarked Yong Kang, CEO of Shanghai DU-POWER New Energy Technical Co., Ltd.
Following the conclusion of the requisite approval process with authorities, including merger control, Volkswagen AG and Shanghai DU-POWER New Energy Technical Co., Ltd. will ultimately each own 50% of the shares in the joint venture. The new company will be located in the Suzhou Wuzhong Economic & Technological Development Zone, near Shanghai, China. As previously announced, flexible quick charging stations will also be produced at the Hannover site in future. Production is to begin this year.
With compact dimensions, the flexible quick charging station can be installed almost anywhere it's needed or where a charging infrastructure is not yet in place. When connected to the low voltage grid, the station becomes a permanent charging point without the additional cost and effort required for a comparable fixed quick charging station. The built-in battery pack can store a buffer of energy meaning that it can be disconnected from the grid. This then eases the strain on the power grid, particularly at peak times.
If electricity generated from renewable sources is fed into the charging station and temporarily stored there, the station enables carbon-neutral mobility. To ensure the sustainable use of valuable resources, the charging station is also designed to be able to use old batteries from electric vehicles as energy accumulators in future. Thanks to quick charging technology, e-vehicles can be charged with up to 150 kW.
“A comprehensive charging infrastructure is the key to the success of e-vehicles. The planned joint venture with DU-POWER therefore represents a significant milestone as we continue to make progress along the path to electric mobility. The innovative design of our flexible quick charging station has huge potential in China, not least because of the rapid growth of electric mobility,” commented Thomas Schmall, CEO of Volkswagen Group Components.
“The electrification of the global automotive industry is a megatrend. As an ambitious high-tech company with a competent technical development core, we will work with Volkswagen to create a solid foundation to support the success of electric vehicles. The partnership for establishing a joint venture in China enables us to collaborate close on the technical aspects of the project to provide flexible, reliable and efficient solutions for the charging infrastructure,” remarked Yong Kang, CEO of Shanghai DU-POWER New Energy Technical Co., Ltd.
Following the conclusion of the requisite approval process with authorities, including merger control, Volkswagen AG and Shanghai DU-POWER New Energy Technical Co., Ltd. will ultimately each own 50% of the shares in the joint venture. The new company will be located in the Suzhou Wuzhong Economic & Technological Development Zone, near Shanghai, China. As previously announced, flexible quick charging stations will also be produced at the Hannover site in future. Production is to begin this year.
With compact dimensions, the flexible quick charging station can be installed almost anywhere it's needed or where a charging infrastructure is not yet in place. When connected to the low voltage grid, the station becomes a permanent charging point without the additional cost and effort required for a comparable fixed quick charging station. The built-in battery pack can store a buffer of energy meaning that it can be disconnected from the grid. This then eases the strain on the power grid, particularly at peak times.
If electricity generated from renewable sources is fed into the charging station and temporarily stored there, the station enables carbon-neutral mobility. To ensure the sustainable use of valuable resources, the charging station is also designed to be able to use old batteries from electric vehicles as energy accumulators in future. Thanks to quick charging technology, e-vehicles can be charged with up to 150 kW.
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Volkswagen Group Components and DU-POWER establish a joint venture in China
Modified on Wednesday 8th April 2020
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Volkswagen Group Components and DU-POWER establish a joint venture in China
Volkswagen Group Components and DU-POWER establish a joint venture in China
Modified on Wednesday 8th April 2020
Find all articles related to:
Volkswagen Group Components and DU-POWER establish a joint venture in China
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