China's No 2 EV charging provider joins Schneider to tackle European market amid tariff war

South China Morning Post11-05

StarCharge, China's second-largest provider of charging equipment for electric vehicles (EVs), is stepping up its overseas expansion plans amid rising tensions in Europe over tariffs on Chinese-made ...

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The venture aims to deliver EV charging infrastructure, photovoltaic inverters, chargers and storage systems in the market.\"There is high demand [in Europe] for premium EV charging facilities and our marriage with Schneider will eventually bring the best solution to local companies and consumers,\" Evan Feng, chief strategy officer, said in an interview. \"As a global leader in energy management and digital automation, Schneider expects our research and development and manufacturing capabilities to benefit the European automotive sector.\". An EV charging pile operated by StarCharge in mainland China. Phot","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SBGSY":"Schneider Electric SE","SBGSF":"Schneider Electric SE","BK4096":"电气部件与设备","SCMP":"Sucampo Pharmaceuticals"},"translate_title":"中国第二大电动汽车充电提供商与施耐德联手应对关税战中的欧洲市场","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SCMP":1,"SBGSF":0.9,"SBGSY":0.9},"content_text":"StarCharge, China's second-largest provider of charging equipment for electric vehicles (EVs), is stepping up its overseas expansion plans amid rising tensions in Europe over tariffs on Chinese-made cars.\nThe company signed an agreement with French group Schneider Electric to form a venture in Europe to drive the electrification of the continent's automotive industry, a company official said. The venture aims to deliver EV charging infrastructure, photovoltaic inverters, chargers and storage systems in the market.\n\"There is high demand [in Europe] for premium EV charging facilities and our marriage with Schneider will eventually bring the best solution to local companies and consumers,\" Evan Feng, chief strategy officer, said in an interview. \"As a global leader in energy management and digital automation, Schneider expects our research and development and manufacturing capabilities to benefit the European automotive sector.\"\nDo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.\nThe transaction is subject to customary closing conditions, including regulatory approvals. Feng declined to disclose the size of the company's investment.\n\nAn EV charging pile operated by StarCharge in mainland China. Photo: Handout alt=An EV charging pile operated by StarCharge in mainland China. Photo: Handout>\nThe signing adds to evidence that Chinese-developed EV technologies and infrastructure are keeping ahead of their global rivals in Europe. It suggests the European Union's punitive tariffs are unlikely to stop China's leading players in key components and charging facilities from going global.\nThe EU last month voted to impose additional tariffs of up to 35 per cent on Chinese-built pure-electric cars following an anti-subsidy investigation that began in September last year. The new duties are on top of the standard 10 per cent tariff applied to pure-electric cars made in China. The extra tariffs will be in effect for five years.\n\"China's EV charging technologies and batteries are the runaway leaders worldwide,\" said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised batteries. \"They are welcome by foreign consumers and business partners. It is expected that more research and production facilities will be built abroad.\"\nStarCharge, based in Changzhou in eastern Jiangsu province, operated 450,000 EV charging piles at the end of 2023, while market leader TELD had 520,000, according to industry data.\n\"We also hope to strengthen our overseas R&D teams which will be responsible for 50 per cent of our total R&D tasks in future,\" Feng said. Schneider will help the venture to grow quickly with its deep knowledge of the European market, extensive footprint and energy management technologies, Feng added.\nStarCharge currently has a US production base in Ohio and is constructing a factory in Vietnam. The company will allocate more assets and professionals to grow its business in 60-odd markets outside China, Feng said, adding that it aims to generate at least 50 per cent of its gross profits in 2025 from these overseas markets.\nThe company is also working with foreign oil and gas companies such as BP and Shell to transform parts of their petrol stations into EV charging facilities. It has also partnered with carmakers including Mercedes-Benz and BMW to produce higher-end charging facilities for their premium EV models.\nChinese EV makers and vendors in the automotive supply chain are at the global vanguard because they have capitalised on core technologies for batteries, self-driving and in-car entertainment, according to David Xu Daquan, the China president of Bosch, the world's largest automotive-parts supplier.\nThis article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved. \nCopyright (c) 2024. South China Morning Post Publishers Ltd. 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