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NaaS Technology Collaborates with CSG Hainan EV, Offering Charging Services in China's 1st EV Penetration Market Hainan

22 March 2024

BEIJING, March 22, 2024 /PRNewswire/ -- Recently, NaaS Technology (NASDAQ: NAAS), the first US-listed EV charging service company in China, announced cooperation with China Southern Power Grid (Hainan) EV Service Co., Ltd. (later referred to as CSG Hainan EV). The two parties will join hands in the connectivity of charging infrastructure and payment service, etc., thus empowering local EV owners in Hainan Province, through the construction of more accessible charging network and more efficient use of charging piles. Hainan Province has the highest penetration rate of EV among China's provincial regions.

As agreed, NaaS, in collaboration with its strategic partner Kuaidian APP, has incorporated 193 charging stations and 700 DC chargers owned by CSG Hainan EV into its national charging service network. Through the APP, users can search for charging stations nearby, including price, location and navigation, along with other value-added services such as one-click charging and online payment.

Known as a tourists and trade destination located at southern China, Hainan Province also notably tops all other provinces and municipalities in accessibility of EVs --in 2023, the region represented China's highest EV penetration rate of 50.8%. The province now has 292,700 EVs, with a car-to-pile ratio of 2.5:1, according to the preliminary statistics of the Department of Finance of Hainan Province.

CSG Hainan EV, an affiliate of China Southern Power Grid, is a provincial operator which provides EV services within the region. Taking the digitalization and platformization of charging infrastructure in Hainan as a priority, the company makes solid progress in installation and operation, also with a view to achieve the "dual-carbon" targets in the Hainan Free Trade Port.

As a new energy asset operator, NaaS provides one-stop new energy industry chain services, including siting consultation, procurement of software and hardware, EPC, operation & maintenance, energy storage, PV and automatic charging robots, etc., to boost industrial efficiency by leveraging digital technologies and AI. As of September 30, 2023, NaaS connected 73,000 charging stations and 767,000 chargers. In Q3 2023, the charging volume of NaaS reached 1.383 billion kWh, representing 21.8% of the national total.

NaaS enhances the connectivity of charging network and digital operation with sustained effort. It has entered into cooperation with charging station operators in Jilin, Guangdong, Shaanxi, Fujian and elsewhere nationwide, expanding its national EV charging service network as well as leveraging its digitalized operation services to the industry.

Sabrina Wang
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