Phihong Technology reported revenue of over NT$1.24 billion in December 2021, marking a 41% increase compared to the same period last year. This impressive revenue growth is coupled with the continued expansion of its customer base for charging station products. In late December 2021, Shell, the world’s second-largest fossil fuel company, officially announced its partnership with Phihong Technology, making Phihong a global supplier of charging equipment for Shell. Deliveries of Phihong charging stations have now begun worldwide. Shell is actively transforming its gas stations into EV charging stations, opening the first Shell Recharge charging station in Hong Kong. This station features two 120kW DC fast chargers, which can charge most EVs from 10% to 80% in 40 to 55 minutes, while newer models can be charged in as little as 25 minutes. Phihong’s 360kW fast-charging technology, a critical component of Shell’s charging infrastructure, has become a focal point in the market.
Growing Demand for Charging Stations Worldwide: Phihong Expands in the European and American Markets
As Shell announced plans to expand its EV charging network across the UK by converting gas stations into multi-functional charging hubs, it is extending its charging station installations globally. Phihong commented that European oil giants are increasingly venturing into the public EV charging station sector. As of 2020, fast chargers accounted for 13% of public charging stations, with over 286,000 stations globally and growing. With 50 years of power supply design and development expertise, Phihong currently derives 70% of its business from the European and American markets. Phihong highlighted that it is the first in Asia to achieve 360kW charging capabilities with standardized and customizable options. This ultra-fast charger can bring diversity to the U.S. economy and incorporates green manufacturing, aligning with carbon-neutral business strategies.
Accelerating Global Charging Network Construction with Shell
In response to the increasing demand and market for EV charging, Phihong Technology is incorporating cloud and data solutions to expand its presence in Europe and the United States, entering the global market for EV charging stations. Regarding its collaboration with Shell and global charging station expansion, Phihong stated that it will tailor its solutions to meet Shell Group’s global charging infrastructure and green energy transition requirements, joining forces to capture the EV charging and energy markets.
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