On January 18, 'Sinopec Wanbang New Energy (Jiangsu) Co., Ltd.,' a joint venture established by Wanbang Digital Energy Co., Ltd. (hereinafter 'Wanbang Digital Energy') and Sinopec Jiangsu Petroleum Company (hereinafter 'Jiangsu Petroleum'), was officially unveiled. Since the establishment of the joint venture, the number of charging bays built and operated by Jiangsu Petroleum across the province has grown to more than 8,500, making it the first provincial-level leading charging operator among Sinopec's sales companies.
▲ The unveiling ceremony
In recent years, guided by Party building and actively implementing the national 'carbon peaking and carbon neutrality' strategy, Jiangsu Petroleum has set the development goals of 'integrated energy + integrated services + digital economy,' pursued the transformation path of an integrated energy service system of 'stabilizing oil, expanding gas, increasing electricity, and promoting hydrogen,' and established the electricity business development approach of 'source-grid-load-storage-piles and charging-swapping-discharging-selling stations,' precisely positioning its charging business as 'the transformation platform for becoming an integrated energy service provider, the customer acquisition gateway for new customers of integrated energy + integrated services, and the network foundation for the power resource aggregator.'
▲ Han Xueling, Chairman of the Board and Party Committee Secretary of Sinopec Jiangsu Petroleum, delivering a speech
As a leading unicorn in Asia's digital energy sector, Wanbang Digital Energy possesses a complete 'source-grid-load-storage-sales-service' integrated new-type power system solution, with all of the core software and hardware equipment independently developed by the company and thus secure and controllable. The charging network of 'StarCharge,' one of its core brands, now covers more than 300 cities and regions nationwide and serves more than 14 million users, making the company a top player in China in the R&D and manufacturing of NEV charging and battery-swapping equipment and in EV charging and battery-swapping operations.
▲ Shao Danwei, Chairwoman of the Board and President of Wanbang Digital Energy Co., Ltd., delivering a speech
Many years ago, the two sides — drawing on their strong alignment in philosophy and their complementary advantages in resources — began in-depth cooperation in areas such as automobile dealership, joint charging station operations, and Easy Joy commodity distribution, building a bridge of 'mutual trust, cooperation, and win-win.' The establishment of this joint venture is a continuation and deepening of that friendship, and an upgrading of their cooperation to a new level.
▲ The two parties will jointly build smart microgrid projects and deepen their focus on the 'source-grid-load-storage' business chain
Going forward, the two sides will continue to join forces. Leveraging Wanbang Digital Energy's endowments and using the charging business as the entry point, they will help Sinopec continuously expand its electricity business market, intensify the construction of smart microgrid projects, keep deepening the 'source-grid-load-storage' business chain, further explore the integrated utilization of electricity, and advance the implementation of integrated PV-storage-charging-discharging (V2G) electricity projects, creating business models such as mobile energy storage + vehicle-grid interaction and V2G + customized vehicles for specific scenarios, extending the value chain of Sinopec's products upstream and downstream, and contributing wisdom and strength to the transformation and upgrading of integrated energy, the diversification of value, and the acceleration of the green energy transition, so as to help the country achieve its 'dual carbon' goals at an early date.
