NaaS Technology Inc. Announces Strategic Partnership with IM Motors

Rhea-AI Summary

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S. listed EV charging service company in China, has announced a strategic partnership with IM Motors, an electric vehicle joint venture among Alibaba, SAIC Motor, and Zhangjiang Hi-Tech. This collaboration aims to expand NaaS's automotive ecosystem partnerships and provide IM Motors customers with access to a broader range of intelligent, efficient, and convenient charging options.

The partnership will enable platform interoperability and charging experience upgrades. IM Motors users can access real-time information about NaaS network charging stations through their app and in-car charging maps. The collaboration offers seamless, intelligent services with interoperable charging stations, plug-and-play capabilities, and one-touch payment solutions.

NaaS has established comprehensive charging service partnerships with major new energy vehicle manufacturers in China, including BYD, Geely, Hyundai, and others. Its AI-powered charging services now cater to over 150 new energy vehicle models.

Positive

• Strategic partnership with IM Motors expands NaaS's automotive ecosystem
• Enhanced charging options and services for IM Motors customers
• Improved platform interoperability and charging experience upgrades
• Real-time information access for charging stations through IM Motors app and in-car maps
• Partnerships with major new energy vehicle manufacturers in China
• AI-powered charging services catering to over 150 new energy vehicle models

Negative

• None.

Insights

Financial Analyst

This strategic partnership between NaaS and IM Motors represents a significant expansion of NaaS's automotive ecosystem, potentially boosting its market position in the EV charging sector. The collaboration with a high-profile joint venture backed by Alibaba and SAIC Motor could enhance NaaS's credibility and user base.

Key points to consider:

• Expanded market reach: Access to IM Motors' customer base could drive growth in NaaS's charging service utilization.
• Enhanced service offering: Integration with IM Motors' app and in-car systems may improve user experience, potentially leading to increased customer retention and revenue.
• Competitive advantage: This partnership, along with NaaS's existing relationships with other major EV manufacturers, strengthens its position in the competitive charging infrastructure market.

While the immediate financial impact is not quantified, this move aligns with NaaS's strategy to expand its network and could contribute to long-term revenue growth and market share gains in the rapidly evolving EV charging market.

Tech Expert

The partnership between NaaS and IM Motors highlights significant technological advancements in EV charging infrastructure integration. Key technological aspects include:

• Platform interoperability: Seamless integration between NaaS's charging network and IM Motors' user interfaces (app and in-car systems) demonstrates advanced API and data sharing capabilities.
• Real-time data processing: The ability to provide live updates on charging station availability, pricing and status indicates robust backend systems and data management.
• One-touch payment solutions: This feature suggests advanced fintech integration, potentially utilizing NFC or QR code technologies for frictionless transactions.
• AI-powered services: NaaS's mention of AI technologies supporting over 150 EV models implies sophisticated machine learning algorithms for optimizing charging processes and user experiences.

These technological integrations could set new standards for EV charging convenience and efficiency, potentially accelerating EV adoption and benefiting both companies in the long run.

BEIJING, Sept. 26, 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 strategic partnership with IM Motors, an electric vehicle joint venture among Alibaba, SAIC Motor, and Zhangjiang Hi-Tech, focused on the design and manufacture of high-end intelligent electric vehicles.

This collaboration significantly expands NaaS's automotive ecosystem partnerships, leveraging its extensive nationwide charging network to offer IM Motors customers enhanced service features. This partnership will provide IM Motors customers with access to a broader range of intelligent, efficient, and convenient charging options, while also promoting open sharing within the charging service industry and accelerating the development of new energy vehicles.

Under the agreement, both parties will utilize their respective strengths in technology, platforms, and resources to enhance platform interoperability and upgrade charging experience. IM Motors users can leverage their app and in-car charging maps to view real-time information regarding the location, pricing, equipment status, and parking fees of charging stations connected to the NaaS network. With a simple scan, drivers can enjoy a seamless, intelligent service experience featuring interoperable charging stations, plug-and-play capabilities, and one-touch payment solutions. This significantly improves the speed and efficiency of locating charging stations, helping new energy vehicle manufacturers enhance the competitiveness of their charging services and opening up extensive opportunities for both companies to enrich the new energy vehicle ecosystem.

NaaS focuses on connecting driver users to charging infrastructure by expanding its charging service network and integrating charging services into more intelligent vehicle central control systems. Currently, it has established comprehensive charging service partnerships with mainstream new energy vehicle manufacturers in China, including BYD, Geely, Hyundai, Zeekr, AITO, Great Wall Motor, GAC Aion, Deepal Auto, NIO, Li Auto, XPeng, FAW-Volkswagen, Arcfox, JI YUE, Voyah, and Neta Auto. Powered by advanced AI technologies, NaaS's charging services now cater to over 150 new energy vehicle models, enhancing user experience and safety across its extensive charging network.

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 asset's 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 

View original content:https://www.prnewswire.com/news-releases/naas-technology-inc-announces-strategic-partnership-with-im-motors-302259866.html

SOURCE NaaS Technology Inc.

FAQ

What is the new strategic partnership announced by NaaS Technology Inc. (NAAS)?

NaaS Technology Inc. (NAAS) has announced a strategic partnership with IM Motors, an electric vehicle joint venture among Alibaba, SAIC Motor, and Zhangjiang Hi-Tech, to expand its automotive ecosystem partnerships and enhance charging services for IM Motors customers.

How will the partnership between NaaS (NAAS) and IM Motors benefit customers?

The partnership will provide IM Motors customers with access to a broader range of intelligent, efficient, and convenient charging options through NaaS's extensive network. Customers can view real-time information about charging stations, enjoy seamless charging experiences, and use one-touch payment solutions.

What other major partnerships does NaaS Technology Inc. (NAAS) have in the EV industry?

NaaS has established comprehensive charging service partnerships with major new energy vehicle manufacturers in China, including BYD, Geely, Hyundai, Zeekr, AITO, Great Wall Motor, GAC Aion, Deepal Auto, NIO, Li Auto, XPeng, FAW-Volkswagen, Arcfox, JI YUE, Voyah, and Neta Auto.

How many new energy vehicle models does NaaS Technology Inc. (NAAS) support with its charging services?

NaaS's AI-powered charging services currently cater to over 150 new energy vehicle models, enhancing user experience and safety across its extensive charging network.