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Shell (SHEL) & BYD Partner for EV Charging in Europe & China
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Headquartered in London, the oil and gas major, Shell plc (SHEL - Free Report) , and the Chinese conglomerate — BYD — announced that the two entities would get into a strategic cooperation agreement associated with plug-in electric vehicles (EVs) in China and Europe to begin with and possibly in other regions worldwide in the future.
The deal will help push China’s energy transition and enhance the charging experience of BYD customers who use battery-powered EVs and plug-in hybrids in the ever-growing new EV sector. The deal will further boost China's position as a top center of EV production and sales, which will encourage more international players to be part of its quickly growing EV charging sector.
Shell and BYD mentioned that they plan to form a joint venture to develop EV charging networks in China. They have come up with a blueprint to operate a network of more than 10,000 charging points in China’s Shenzhen at the beginning and the Guangdong province in the near future. The network will be further expanded to more sites in the country.
Both the firms will jointly look for opportunities to create BYD-Shell EV hubs in crucial European markets and form a pan-European Mobility Service Provider partnership and cooperatively develop fleet solutions and depot charging services for BYD customers in Europe.
Moreover, per the agreement, the firms will pursue to provide integrated home energy solutions, such as dynamic tariff scheduling, solar integration, home batteries, vehicle-to-grid charging, worldwide.
Internationally, SHEL will help BYD generate a cost-saving and better hardware performance with Shell E-Fluids and coolants. Additionally, both entities plan to collaborate on global research and development in the fields of battery performance and advanced charging.
Jason Wong, executive chairman of Shell in China, mentioned that his company is pleased to partner with BYD to discover the prospects of the growing EV charging network in China and unceasingly improve the charging experience for EV customers. "By working with more partners collectively, we will be able to build an ecosystem to accelerate the energy transition and make contributions to China's ambition to achieve carbon neutrality by 2060," he added.
The Zacks Consensus Estimate for Cenovus Energy’s 2022 earnings is pegged at $2.43 per share, up 200% from the projected year-ago earnings of 81 cents.
Cenovus Energy’s stock has rallied 132.6% in a year. The Zacks Consensus Estimate for CVE’s 2022 earnings has been revised 37.3% upward over the past 60 days.
The Zacks Consensus Estimate for TotalEnergies’ 2022 earnings is pegged at $10.52 per share, which is about 57.5% higher than the year-ago estimate of $6.68.
TotalEnergies beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being about 18.9%. TTE shares have gone up around 18.3% in a year.
Murphy USA is valued at around $5.5 billion. The Zacks Consensus Estimate for Murphy USA’s 2022 earnings per share has been revised upward over the past 60 days from $11.35 to $11.42.
Murphy USA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 24.6%. MUSA stock has rallied around 64.1% in a year.
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Shell (SHEL) & BYD Partner for EV Charging in Europe & China
Headquartered in London, the oil and gas major, Shell plc (SHEL - Free Report) , and the Chinese conglomerate — BYD — announced that the two entities would get into a strategic cooperation agreement associated with plug-in electric vehicles (EVs) in China and Europe to begin with and possibly in other regions worldwide in the future.
The deal will help push China’s energy transition and enhance the charging experience of BYD customers who use battery-powered EVs and plug-in hybrids in the ever-growing new EV sector. The deal will further boost China's position as a top center of EV production and sales, which will encourage more international players to be part of its quickly growing EV charging sector.
Shell and BYD mentioned that they plan to form a joint venture to develop EV charging networks in China. They have come up with a blueprint to operate a network of more than 10,000 charging points in China’s Shenzhen at the beginning and the Guangdong province in the near future. The network will be further expanded to more sites in the country.
Both the firms will jointly look for opportunities to create BYD-Shell EV hubs in crucial European markets and form a pan-European Mobility Service Provider partnership and cooperatively develop fleet solutions and depot charging services for BYD customers in Europe.
Moreover, per the agreement, the firms will pursue to provide integrated home energy solutions, such as dynamic tariff scheduling, solar integration, home batteries, vehicle-to-grid charging, worldwide.
Internationally, SHEL will help BYD generate a cost-saving and better hardware performance with Shell E-Fluids and coolants. Additionally, both entities plan to collaborate on global research and development in the fields of battery performance and advanced charging.
Jason Wong, executive chairman of Shell in China, mentioned that his company is pleased to partner with BYD to discover the prospects of the growing EV charging network in China and unceasingly improve the charging experience for EV customers. "By working with more partners collectively, we will be able to build an ecosystem to accelerate the energy transition and make contributions to China's ambition to achieve carbon neutrality by 2060," he added.
Shell currently sports a Zacks Rank #1 (Strong Buy). Some other similar-ranked stocks from the energy sector that warrant a look include Cenovus Energy (CVE - Free Report) , TotalEnergies (TTE - Free Report) and Murphy USA (MUSA - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Cenovus Energy’s 2022 earnings is pegged at $2.43 per share, up 200% from the projected year-ago earnings of 81 cents.
Cenovus Energy’s stock has rallied 132.6% in a year. The Zacks Consensus Estimate for CVE’s 2022 earnings has been revised 37.3% upward over the past 60 days.
The Zacks Consensus Estimate for TotalEnergies’ 2022 earnings is pegged at $10.52 per share, which is about 57.5% higher than the year-ago estimate of $6.68.
TotalEnergies beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being about 18.9%. TTE shares have gone up around 18.3% in a year.
Murphy USA is valued at around $5.5 billion. The Zacks Consensus Estimate for Murphy USA’s 2022 earnings per share has been revised upward over the past 60 days from $11.35 to $11.42.
Murphy USA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 24.6%. MUSA stock has rallied around 64.1% in a year.