NaaS Technology Collaborates with Geely Auto to Provide Millions of EV Owners with More Accessible Charging Services
- NaaS Technology (NASDAQ: NAAS) has entered into a partnership with Geely Auto to enhance EV charging services for Geely EV owners. The collaboration aims to improve the charging experience for Geely EV owners by providing convenient features such as 'one-click pile searching', 'one-click charging', and 'one-click payment' through the Geely Auto app and Kuaidian app. This partnership will enable Geely EV owners to access a multitude of charging piles across the country, enhancing the efficiency and ease of charging services.
- Geely Auto has shown significant growth in EV sales, with a year-on-year increase of 591% in single-month sales in January 2024. The company's overall sales data for January 2024 reflects a 110% year-on-year increase, indicating a strong performance in the EV market. Geely Auto has been focusing on new energy and intelligent transformation, with EV models covering all market segments. The company's commitment to new energy transformation is evident from its sales data, with a 48% increase in EV sales in 2023 compared to the previous year.
- None.
Insights
The partnership between NaaS Technology and Geely Auto represents a strategic alignment within the electric vehicle (EV) sector, aiming to enhance the EV charging infrastructure. This collaboration is likely to strengthen both companies' positions in an increasingly competitive market. From a market research standpoint, the integration of charging services and the expansion of network capabilities are critical for the customer experience, which directly influences brand loyalty and market share.
Considering the reported surge in Geely Auto's EV sales, the demand for efficient charging solutions is expected to rise correspondingly. The move by NaaS to provide one-click services through multiple platforms also aligns with consumer preferences for convenience and accessibility. This could potentially lead to increased customer satisfaction and further drive the adoption of EVs, contributing to the overall growth of the industry.
The emphasis on the development of smart microgrids and the intelligent transformation of electrical grid infrastructure, as highlighted by the Political Bureau of the CPC Central Committee, underscores the importance of this partnership. The ability of electrical grids to accommodate clean energy is a significant factor in the sustainability and scalability of EVs. NaaS's role in connecting a vast number of chargers and its substantial year-over-year increase in charging volume indicates robust growth in the sector.
Moreover, the integration of digital technologies and AI by NaaS to boost industrial efficiency could lead to operational cost savings and improved energy management. This might enhance the profitability of charging services and provide a competitive edge in attracting partnerships with other automakers, potentially impacting the stock performance of companies involved in the EV charging industry.
The financial implications of the partnership for NaaS Technology and Geely Auto are multifaceted. On one hand, the partnership could lead to revenue growth for NaaS through increased utilization of its charging network by Geely EV owners. On the other hand, Geely Auto might see an enhancement in its competitive advantage in the EV market through an improved charging ecosystem, which could positively influence its sales figures and market valuation.
The reported increases in sales and EV sales for Geely Auto, along with NaaS's significant charging volume growth, suggest a positive outlook for both companies' financial performance. Investors should monitor the execution of this partnership and the subsequent user adoption rates, as these will be critical in assessing the long-term financial impact on both entities.
As agreed, NaaS and its strategic partner Kuaidian will jointly give Geely EV owners access to a multitude of charging piles dotted around the country. This cooperation covers EVs of Yinhe and Lynk among other brands of Geely. Using "one-click pile searching", "one-click charging", "one-click payment" and other convenient features at Geely Auto app, mini program and Kuaidian app, EV owners can enjoy more efficient charging and service. NaaS has already worked with ZEEKR, a luxury intelligent BEV brand of Geely Auto, to provide accessible charging services for millions of car owners.
Wu Chao, at the helm of Charging BU at Geely Auto, said, "Green and sustainable development of transport has become a consensus in the international community. Teaming up with NaaS, we plan to optimize charging service experience and strengthen cooperation in charging service industry chain. By improving energy supply network and innovating charging service, we take aim at satisfying flexible and diversified charging demands of car owners and impressing Geely EV owners by easy and worry-free green mobility experience, thus boosting high-quality development of EV industry."
Liang Xing, VP of NaaS concurred, "Charging service experience has a bearing on the quality of development of the EV industry. By leveraging developed charging solutions as well as extensive resources and experience built up on charging service market, NaaS vows to help more automakers like Geely to make EV charging more accessible, and jointly bring EV charging service to a new level."
In recent years, Geely Auto has been stepping up new energy and intelligent transformation, with overall arrangements made in hybrid, BEV, battery swapping, methanol, and many other technological paths. With EV models covering all market segments, Geely cements its preeminence on the EV market. Geely Auto's sales data in January 2024 shows a year-on-year increase of
According to Xinhua News Agency, on Feb. 29, the Political Bureau of the CPC Central Committee pointed out that it is necessary to promote the intelligent transformation of electrical grid infrastructure and the construction of smart microgrids, improve electrical grids' ability to accept, allocate and regulate clean energy, and accelerate the establishment of charging infrastructure network system to support the rapid development of EVs.
NaaS, a new energy asset operator, provides one-stop industry chain service package from charging station siting consultation, EPC, operation and maintenance, energy storage, PV, to autonomous charging robot inclusive, and boosts industrial efficiency by dint of digital technologies and AI. As of September 30, 2023, NaaS connected over 767,000 chargers covering 73,000 charging stations. In the third quarter of 2023, NaaS' charging volume leaped
For media enquiries, please contact: Sabrina Wang, Email: wangxuedong@newlink.com.
View original content:https://www.prnewswire.com/news-releases/naas-technology-collaborates-with-geely-auto-to-provide-millions-of-ev-owners-with-more-accessible-charging-services-302077132.html
SOURCE NaaS Technology Inc.
FAQ
What is the recent partnership announced by NaaS Technology (NAAS)?
What features will Geely EV owners benefit from through this collaboration?
How has Geely Auto performed in terms of EV sales recently?
