Sinopec, CATL seal framework agreement to advance green, low-carbon industry development

March 15, 2024

On March 13, China Petrochemical Corporation ("Sinopec") and the Chinese power battery giant CATL signed a strategic cooperation framework agreement in Beijing, according to a post on Sinopec's WeChat account.


Both parties expressed their intention to leverage their respective strengths to deepen strategic cooperation, broaden cooperation fields, extend the industrial chain, accelerate transformation and upgrading efforts, and contribute significantly to promoting the green, low-carbon, and high-quality development of the energy sector, as well as to the rapid development of strategic emerging and future industries.


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Recently, Sinopec has been actively engaging in partnerships with new energy companies. On March 9, Sinopec and Zhejiang Geely Holding Group also signed a strategic cooperation framework agreement in Beijing. According to this agreement, the two sides will utilize their advantages in fields such as green and low-carbon industry transformation, methanol industry, new energy, and new materials for strategic cooperation. This partnership aims to optimize and upgrade the supply chain and industrial chain, driving high-quality development for both parties.


Previously, Sinopec had already embarked on collaborations in the charging pile sector with giants like Huawei and Wanbang Digital Energy Co., Ltd., the parent of Star Charge. These new agreements with leading new energy companies underscore Sinopec's continuous efforts in the new energy and new materials sectors.


To be specific, on January 18, the joint venture between Sinopec Jiangsu Oil Products Company ("Sinopec Jiangsu") and Wanbang Digital Energy, named "Sinopec Wanbang New Energy (Jiangsu) Co., Ltd.," was officially inaugurated. This venture marks a significant expansion of Sinopec Jiangsu's charging infrastructure to over 8,500 charging points across the province.


Moreover, on January 24, Sinopec Beijing Oil Products Company ("Sinopec Beijing")'s Xiaowuji charging station commenced operations. This station, the first in Sinopec Beijing to utilize Huawei's liquid-cooling supercharging technology, is also the largest liquid-cooled super-fast charging station in China. Located on a 3,000 square meter site, it can simultaneously meet the charging needs of 70 new energy vehicles.