China may invest up to 4.8b yuan in EV charging station infrastructure by 2015

Gasgoo.com (Shanghai April 9) - According to its Twelfth Five-Year Guideline's Plan on Energy Conservation and Emission Reduction, the China Southern Power Grid Company will aim to make cuts of 100 million tons of coal and 300 million tons of carbon dioxide emissions by 2015. The ambitious plans signify that several industries in the south of the country are on the verge of a major environmental reform. In a report appearing in the Guangzhou Daily today, analysts from Ping An Securities predict that there may be up to 4.8 billion yuan ($763.72m) invested in building electric vehicle charging stations in China by 2015.

All construction and emissions reduction work in China Southern Power Grid's plan is expected to be completed by the 2015 deadline. Compared with its previous plan for the 2006 to 2010 timeline, the power company should see its emissions drop to 0.2 tons of coal or less for every 10,000 yuan ($1,591) of property owned.

According to the plan, China Southern Power Grid will be making steps to further develop EV charging infrastructure. The company has plans to build charging stations in five provinces this year, as well as increase the number of stations located near highways.

State Grid Corporation, the other state-owned electric utility company in the country, constructed a total of 156 charging stations and 6,252 charging posts in 2011, spreading across a range of cities including Beijing, Suzhou, Shanghai, Hangzhou and Qingdao.

Ping An Securities expects total demand for EVs to reach 977,000 units by 2015 with an average annual growth rate of 216 percent.