Didi,TELD establish JV to march into charging service of EV-hailing market

Shanghai (Gasgoo)- In order to deploy charging service of EV-hailing market and expand presence in EV-hailing market, TGOOD announced on Feb. 22 that its wholly-owned subsidiary, Qingdao TELD New Energy Co., Ltd. (hereinafter referred to as TELD) signed a JV agreement with Huidi (Tianjin) Commercial Service Co., Ltd. (hereinafter referred to as Huidi), a subsidiary of Didi Chuxing, to establish Xiaoju TELD (Qingdao) New Energy Co., Ltd. (hereinafter referred to as JV). The total registered capital of the new JV will reach RMB 100 million, among which, TELD will invest RMB 40 million, taking up 40% of the total registered capital.

According to the announcement, the new JV will cover a wide business range, including the designing, installation, sales and inquiry service of EV charging system and equipment, EV charging service, NEV purchasing, sales and maintenance, as well as construction, operating and management of parking lots.  

The cooperation will not only enhance TELD's leading position in EV charging market, but also help build an ecosystem which is jointly created by carmakers, operators and mobility platforms. Moreover, the cooperation will also boost the development of EV-hailing charging market as well as the popularization and application of NEVs.

According to TGOOD, Chinese EV market is growing rapidly, and the intelligent charging field poses great potential. Currently, the company possesses more than 120,000 intelligent charging piles. Among them, more than 100,000 are public charging piles. According to the statistics from China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA), TGOOD now has built and owned most EV charging piles and also the most operating charging piles in China, taking up 47% of China's EV charging market.