Baoneng Motor sets up charging service subsidiary in Guangzhou

Shanghai (Gasgoo)- Baoneng Motor, the automobile unit of Chinese property conglomerate Baoneng Group, last week registered a charging service subsidiary in Guangzhou, which involves a registered capital of 10 million yuan ($1.548 million), according to the corporate data platform Tianyancha.

Tianyancha's records show that the new subsidiary, named Baoneng New Energy Vehicle Charging Service (Guangzhou) Co.,Ltd., was founded on Jan. 26, 2020. It is 100% held by Shenzhen Baoneng Motor Energy Service Co.,Ltd., a wholly-owned subsidiary of Baoneng New Energy Vehicle Group Co.,Ltd..

The new company engages in the sale of distributed AC charging piles, battery swapping facilities for new energy vehicles (NEVs) and NEVs, the operation of centralized fast charging stations and other EV charging infrastructures, the R&D of software and IoT (Internet of Things) technologies, and the wholesale of auto parts.

Baoneng Motor is vigorously working on its automotive deployment that fully covers complete vehicles, components and mobility services. In last November, it set up an auto parts subsidiary in Shenzhen with a line of business including the development, production and sale of auto parts, stamping parts, forging parts, modules and other equipment.

The move shortly came after Baoneng Motor announced the establishment of the automotive software company “Foresea Seven Swords”, which is designed to be a provider of intelligent vehicle-related software and innovative business models.

Baoneng Motor completing Xi'an car production base

In early Nov. 2020, the company claimed the completion of a car manufacturing plant in Xi'an, the first self-built production base of Baoneng Motor. Meanwhile, the first vehicle based on the xEV platform rolled off the assembly line. Unveiled at the Auto China 2020, the xEV is compatible with multiple power solutions like BEV (battery electric vehicle), PHEV (plug-in hybrid electric vehicle) and REEV (range-extended electric vehicle).