Shell and Chinese automotive giant BYD are partnering up on two EV incentives for the Asian and European markets according to multiple reports.
The new joint venture will see the two companies work together for the first time. The initial focus will be on developing a charging network in China.
The joint venture will see Shell offer membership charging services for BYD customers.
The company will also develop a in-house vehicle charging network with more than 10,000 EV chargers in Shenzhen before expanding to other cities.
As well, the company will set up a series of battery swap stations in China by 2025.
Further to this, the new joint venture will also test out battery swap stations in multiple European jurisdictions.
In addition, the two companies will also work on providing home energy solutions to both China and Europe. This may include solar integration and vehicle-to-grid charging.
Although not many details were included in the release, one clear thing is that Shell is making moves in the EV space.
The company signed a similar deal with NIO back in November.
As well, Shell currently offers a subscription service in Germany that includes both Model 3s and Model Ys. The monthly cost is $650 and includes 20,000 km per month, car insurance, tires, and maintenance.