German automaker Mercedes-Benz said Thursday it has reached an agreement with BMW to form a joint venture to operate a high-power charging network in China.
At least 1,000 high-power charging stations with about 7,000 charging stacks are expected to be installed in the country by the end of 2026, the company said in the statement, adding that the deal is subject to regulatory approval.
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The first stations are expected to come online in 2024 in regions with higher sales of electric vehicles.
Mercedes-Benz announced earlier this year that it would invest billions of euros to build its own charging network of 10,000 fast-charging stations in North America, Europe and China by 2030.
