Energy Trader Vitol, China's BYD Partner On EV Infrastructure

Vitol has partnered with China's BYD to allocate an initial $250 million to expand electric vehicle infrastructure in some markets, the energy trading firm said on Wednesday.

"Together they will offer municipal, corporate and others a comprehensive solution including electric vehicles, charging infrastructure and depot design," the statement said.

Vitol is currently deploying over 300 electric buses in Bogota, Colombia, and is seeking additional opportunities in South America and further afield.

“We are excited by the potential and intend to grow our fleet tenfold in the coming years," Andrew de Pass, Vitol's head of renewables, said in the statement.