CNPC and FAW sign strategic cooperation agreement
On January 7, CNPC and China FAW Group Corporation (FAW) inked a strategic cooperation agreement in Beijing, to collaborate in the fields of internet car and new energy automobiles, and promote the R&D, manufacturing and popularization of new energy automobiles. CNPC Chairman Wang Yilin and FAW Chairman Xu Ping attended the signing ceremony, and CNPC Vice President Yu Baocai and FAW Vice President Dong Chunbo signed the agreement on behalf of the two companies.
Under the agreement, CNPC will bring battery charging business to its service stations, and establish more charging stations for electric vehicles and gas stations in key urban areas and along the expressways, in an effort to support FAW’s new energy automobile business in the industrial chain.
The two companies will jointly set up a laboratory to strengthen R&D of follow-up lube oil products, and put forward feasible oil specifications for domestic automobiles.
Additionally, longtime lube oil products will be developed tailoring to FAW’s full line vehicle models. CNPC will also provide products and services in the automobile after-sales market for FAW’s subordinate companies, through its nationwide marketing network of over 20,000 service stations covering 31 provinces, municipalities and autonomous regions.
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