Traditional oil and gas companies expected to enter market

With the fast growth in China's new energy vehicle industry, it is inevitable that traditional oil and gas companies will enter the charging market, industry experts said.

An arm of Sinopec in Hainan province announced on Aug 13 it had built 40 charging piles in eight highway service stations and its 10 oil stations in urban areas of Haikou and Sanya cities.

The charging piles, designed to be able to provide charging and parking services for 80 electric vehicles at the same time, are expected to meet fast charging demand from commercial EVs such as electric buses and online ride-hailing electric cars, as well as private EVs, the company said in a news release.