TotalEnergies, China Three Gorges to form electric mobility venture in China

FILE PHOTO: The logo of French oil and gas company TotalEnergies at a petrol station in Ressons
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen at a petrol station in Ressons, France, August 6, 2021. REUTERS/Pascal Rossignol/File Photo

September 28, 2021

PARIS (Reuters) – France’s TotalEnergies said on Tuesday it has signed an agreement with China Three Gorges Corporation to establish a joint venture in electric mobility in China.

The venture will develop electric vehicle (EV) high-power charging infrastructure and services, TotalEnergies said.

“The joint venture’s growth perspectives are supported by China’s ambition to be carbon net neutral by 2060,” the company said in a joint statement with China Three Gorges.

TotalEnergies said on Monday that global oil demand was expected to peak before 2030, earlier than previously projected.

(Reporting by Benjamin Mallet; writing by Matthieu Protard; editing by Jason Neely)