Shanghai (ZXZC)- Global energy giant Shell and Chinese automaker BYD plan to build a joint venture focusing on developing an electric vehicle (EV) charging network in China, as part of the global strategic cooperation both parties reached on March 24.

The joint venture is expected to operate over 10,000 EV charging points in Shenzhen first, and then expand its businesses to other cities.

BYD Han EV at Shell's charging station; photo credit: Shell

According to Shell, the newly-formed cooperation will begin in Europe and China, and then enter other countries and regions in the future.

Under the agreement, Shell will collaborate with NIO on integrating the Shell Recharge Mobility Service Provider (MSP) in Europe, offering its membership services to the latter's private and business users, and providing customers with access to its roaming EV charging network that covers over 275,000 charging points.

The duo will also jointly develop car fleet solutions and EV charging service dedicated to BYD's customers in Europe.

Besides, the two parties attempt to build a co-branded EV service center in main markets in Europe to let users enjoy BYD's upscale design and advanced EV technologies.

For the global sphere, Shell will work on helping BYD further decrease costs and improve hardware performances through its advanced technologies and products like E-Fluids and cooling liquid.

Moreover, the two companies intend to carry out R&D cooperation worldwide in the fields like battery performance and EV charging.