Tag Archives: EV

Evergrande teams up with State Grid for e-chargers

Will China’s fragmented and somewhat messy New Energy Vehicle market be cleaned up soon by the creation of a national champion? The question might be premature, but it gained impetus today with announcement that the country’s biggest real-estate developer, Shenzhen-based China Evergrande, had teamed up with the State Grid Corp to create a network of electric-vehicle (EV) charging stations, reports Caixin Global. 

State Grid made the announcement, saying it has set up a RMB180 million 50-50 joint venture with the technology arm of Evergrande Group to combine its near-monopoly electricity distribution resources and Evergrande’s property management expertise. 

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Property developer invests in HK firm

Property developer Agile Group, known for its estates in Zhongshan, will invest over HK$200 million (US$25 million) in Hong Kong EV services provider WE Solutions, taking up around 6% of its total shares, according to Caixin.

WE Solutions has already attracted multiple billionaires in the Greater Bay Area, including Hong Kong’s richest man, Li Ka-shing, and founder and chairman of the TCL group, Li Dongsheng.

Agile said the stake is mainly financial, but the two parties will remain open to further collaboration in business development in the future. The developer has no previous EV business experience.