NaaS Partners with State Grid Hebei to Enhance Provincial EV Charging Network

Rhea-AI Summary

NaaS Technology Inc. (NAAS) has announced a strategic partnership with State Grid Hebei to integrate over 2,800 public chargers into its partner Kuaidian's charging network. The collaboration will enhance charging services for more than one million EV owners across key cities in Hebei Province, including Shijiazhuang, Baoding, Xingtai, Cangzhou, Handan, and Hengshui.

The partnership leverages NaaS's NEF (NaaS Energy Fintech) system's AI capabilities to provide features like real-time charger availability, one-click payments, and navigational support. Hebei Province currently has approximately 1.03 million new energy vehicles and 95,000 public chargers, ranking fourth in China for public charging volume. The region shows strong EV adoption growth, with Shijiazhuang achieving a 49.95% new car sales penetration and 45.4% year-on-year sales increase in September 2024.

Positive

• Integration of 2,800+ new public chargers expanding network coverage
• Access to 1+ million EV owners in Hebei Province
• Strong market position in China's fourth-largest charging market
• Impressive regional growth with 49.95% EV penetration rate in Shijiazhuang

Negative

• None.

Insights

Market Research Analyst

This strategic partnership represents a significant expansion of NaaS's charging network in a important market. Hebei Province's position as China's fourth-largest public charging market, with over 1 million EVs and 95,000 public chargers, makes this integration of 2,800 chargers particularly valuable. The region's impressive growth metrics, especially Shijiazhuang's 49.95% EV penetration rate and 45.4% year-over-year sales growth, indicate strong market momentum.

The integration through Kuaidian's platform enhances NaaS's competitive position by improving user accessibility and service delivery. The NEF system's AI-driven capabilities for optimization and dynamic pricing should drive operational efficiencies and higher utilization rates. This move strengthens NaaS's market presence in a high-growth region while potentially creating new revenue streams through increased transaction volumes and data-driven services.

Tech Expert

The technological integration of State Grid Hebei's charging infrastructure with NaaS's NEF system represents a significant advancement in charging network optimization. The AI-driven capabilities for real-time demand analysis, dynamic pricing and intelligent site selection address critical operational challenges in the EV charging sector. The system's ability to process real-time data for precise marketing and service delivery showcases advanced IoT and data analytics implementation.

The platform's features, including real-time charger availability and one-click payments, enhance user experience while generating valuable usage data. This data-driven approach to infrastructure management should lead to better capacity utilization and improved ROI for charging station operators. The scalable architecture of the NEF system positions NaaS well for future network expansions.

BEIJING, Dec. 5, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announced a new partnership with the State Grid Corporation of China's Hebei Electric Vehicle Charging Service Company ("State Grid Hebei") to integrate over 2,800 public chargers into NaaS's strategic partner Kuaidian's charging service network. This partnership represents a significant step forward in NaaS's efforts to advance charging interconnection and increase supply side coverage, a strategic priority the Company announced earlier this year.

This collaboration will enhance the charging experience for more than one million EV owners across key cities in Hebei Province, including Shijiazhuang, Baoding, Xingtai, Cangzhou, Handan, and Hengshui, seamlessly connecting State Grid Hebei's charging network with the Kuaidian app to provide more convenient, efficient, and intelligent charging services. Users will gain access to a range of features including charging station location, real-time charger availability, one-click payments, and navigational support, optimizing their charging experience.

Ms. Yang Wang, Chief Executive Officer of NaaS, commented, "This collaboration marks another milestone in NaaS's mission to improve China's EV charging ecosystem. By leveraging our NEF (NaaS Energy Fintech) system's AI-driven capabilities and our vast array of strategic partnerships, we are transforming the charging experience, improving operational efficiencies, and propelling the rapid adoption of electric vehicles in key regions like Hebei. The integration with State Grid Hebei's charging infrastructure is a prime example of how our technology can help fulfill the growing demand for EV charging services across the country."

Mr. Steven Sim, Chief Financial Officer of NaaS, commented, "This partnership not only expands our market presence in Hebei Province but also demonstrates the financial strength and scalability of our NEF system. We believe that expanding our charging infrastructure footprint will provide a solid foundation for our financial performance in the coming quarters. This strategic collaboration also aligns with our long-term financial goals, with a focus on our core charging business, and underscores our commitment to delivering sustainable value to our shareholders through innovative and scalable solutions in the EV charging sector."

The newly connected charging stations in Hebei will expand the availability and coverage of public charging infrastructure, particularly in high-demand cities such as Shijiazhuang, Baoding, and Tangshan, where EV adoption rates have been growing rapidly. According to data from the China Charging Alliance, Hebei Province was home to approximately 1.03 million new energy vehicles and 95,000 public chargers as of August 2024. Hebei ranks fourth in China for public charging volume, trailing only Guangdong, Jiangsu, and Zhejiang provinces, with EV sales and penetration rates growing at an impressive pace. For instance, in September 2024, Shijiazhuang's new car sales penetration reached 49.95%, with sales increasing by 45.4% year-on-year, outpacing the industry's overall growth, according to the same source.

NaaS's NEF system plays a key role in enhancing the efficiency of regional charging infrastructure, utilizing real-time data on local charging demand and dynamic electricity pricing to optimize charging stations' operations, improve user flow, and enable precise marketing and service delivery. Additionally, the system's intelligent site selection and operational monitoring capabilities help charging station operators align supply and demand more accurately, improving their profitability and operational efficiency. As the NEF system's applications expand and deepen, its impact on supply-demand matching, station profitability, and industry efficiency is also increasing. Its positive outcomes have attracted widespread market recognition, solidifying NaaS's position as a key player in the EV charging industry.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop solutions to energy asset owners comprising charging services, energy solutions and new initiatives, supporting every stage of energy assets' lifecycle and facilitating energy transition.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS' goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China's EV charging industry and EV charging service industry and NaaS' future business development; demand for and market acceptance of NaaS' products and services; NaaS' ability to protect and enforce its intellectual property rights; NaaS' ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS' operation, fluctuations of the RMB exchange rate, and NaaS' ability to obtain adequate financing for its planned capital expenditure requirements; NaaS' relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS' filings with the SEC.

For investor and media inquiries, please contact:
Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com 

 

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SOURCE NaaS Technology Inc.

FAQ

How many public chargers will NaaS (NAAS) integrate through the State Grid Hebei partnership?

NaaS will integrate over 2,800 public chargers from State Grid Hebei into its partner Kuaidian's charging service network.

What is the current EV and charging infrastructure in Hebei Province as of August 2024?

As of August 2024, Hebei Province had approximately 1.03 million new energy vehicles and 95,000 public chargers.

What was Shijiazhuang's EV sales growth in September 2024?

In September 2024, Shijiazhuang's new car sales penetration reached 49.95%, with sales increasing by 45.4% year-on-year.

Which cities in Hebei Province will benefit from NaaS's (NAAS) charging network expansion?

The expansion will benefit EV owners in Shijiazhuang, Baoding, Xingtai, Cangzhou, Handan, and Hengshui.