Monday 20 April 2020

State Grid Corp of China invests 2.7bn yuan in EV charging points

State Grid Corp of China invests 2.7bn yuan in EV charging points

The State Grid Corporation of China has announced it will invest 2.7 billion yuan (£810m) this year to build 78,000 electric vehicle (EV) charging points across the country.

Supporting China's efforts to promote the development of EVs and related sectors, the investment aims to increase the availability rate of points for every EV in the country.

Furthermore, State Grid Jiangsu Electric Power plans to invest about 370 million yuan (£41.8m) in building EV charging facilities in villages and townships as the country speeds up infrastructure construction to support the development of low carbon cars.

Jiangsu now has about 170,000 EVs and 78,000 chargers of various types across the province.

The company said around 90% of the chargers are in the urban areas, but notes an increasing number of rural residents are using electric cars.

Li Yaohong, Marketing Director, said: "As the province takes the lead to build more charging facilities, it will also help stimulate investment in EVs and chargers and spur consumption amid the Covid-19 epidemic."

By the end of March, China had 542,000 public charging points, industry data showed.

Written by

Bruna Pinhoni

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