Didi Chuxing

BP teams up with China's Didi Chuxing on electric vehicle charging

Photo: Didi Chuxing/BP

BP and ride-hailing giant Didi Chuxing are partnering on a joint venture to deploy a network of electric vehicle charging stations in China.

Why it matters: The move signals a major expansion of BP’s increasing investments in the electric vehicle charging space, says Axios' Ben Geman. China is the world’s largest EV market, and the partnership's aim to "quickly" become the nation’s leading charging provider is ambitious.

Go deeper: BP moves into China's electric vehicle charging market

Expert Voices

The ride-hailing challenges autonomy can't solve

gray van with Uber and Lyft stickers on the window
A ride-hailing vehicle in New York City. Photo: Spencer Platt/Getty Images

Ride-hailing companies like Uber, Lyft and China's Didi have dominated the emerging mobility market and are now investing in autonomous technology, which Goldman Sachs projects would accelerate growth and increase profitability by eliminating driver subsidies.

The big picture: Even with AV fleets, however, ride-hailing companies may struggle to improve their bottom lines without addressing other inefficiencies in their business model. The time ride-hailing vehicles spend empty (traveling 2.8 miles for every mile in service) only exacerbates the role they have played in slowing city traffic, by up to 20% in New York and 51% in San Francisco.