This agreement paves the way for the introduction of Electreon’s charging technologies in Shandong province, the second-largest province in China, and the world’s EV manufacturing epicenter. The partnership encompasses several phases.
Phase one, commencing in Q4 2023, will feature the debut of Electreon’s wireless charging technologies at the Jinan Shandong Hi-Speed industrial park which may later be used to transport SITEC personnel within the park. Electreon will also integrate its technology with vehicles from the one of the biggest Chinese bus manufacturers, Zhongtong Bus.
This deployment will showcase this innovative EV charging technology to key clients, partners and other stakeholders in the Chinese market for the first time. Under this collaborative initiative, Electreon will also establish a Chinese subsidiary company.
The subsequent agreed second phase of the Electreon-SITEC partnership is of commercial significance to the partners. Together they will deploy tens of kilometers of Electreon’s dynamic charging system (also known as Electric Road technology), hundreds of stationary charging stations, and install the company’s technology on several hundred urban electric buses in Liaocheng city, situated in the west of Shandong province.
Beyond this initial commercial project, Electreon and SITEC are also committed to fostering commercial business projects across the province and beyond.
In the third phase, the partners will launch a wireless charging project for electric trucks operating within the Weifang Port, along with the integration of Electreon’s technology into Sinotruk vehicles, the country’s largest truck manufacturer, owned by the China National Heavy Duty Truck Group.
Additionally, the partners will continue to collaborate to expand the portfolio of electric fleet operator clients, cooperate with EV manufacturers and original equipment manufacturer (OEM) partners to develop projects tailored to meet the operational needs of fleet operator clients throughout China.
Electreon already has operational projects in Germany, Italy, Sweden, Israel, and the US, and has signed deals for additional projects in Germany, its first project in France, and another in Norway in the past year. Entering China will now enable the company to ramp up its mass manufacturing and production capacities, while keeping costs down, to meet the growing market demand for the company’s wireless charging solutions at large commercial scales across Europe and beyond.
Beyond being the heart of global EV production, Shandong province is also a strategic market entry point for Electreon. It is the second most populous region in China, with more than 100 million inhabitants, and boasts a robust economy with a GDP larger than that of the entire country of Mexico.
SITEC, headquartered in Jinan, China, is supported by and closely affiliated with SDHS. With an annual revenue of US$34.4 billion and a workforce of more than 70,000, SDHS is one of China’s premier infrastructure State-owned Enterprises (SOEs). As the provincial science and technology innovation platform, SITEC plays a pivotal role in various industrial sectors essential to Electreon’s success in China, including highway, railway, and port construction and operations, and is strongly backed by the Jinan Industrial Development Investment Group.
