NaaS Technology Inc. (NASDAQ: NAAS, “NaaS”, the “Company”), one of the largest and fastest-growing electric vehicle charging service providers in China, announced that it has entered into a strategic partnership with smart connected car platform provider, Zhejiang Green Intelligent Link Co., Ltd. (“Green Intelligent Link”). Under the terms of the partnership, the two parties will provide one-stop charging solutions, including the interconnection of charging piles and the digital management of charging solutions for delivery and logistics fleets, in response to the needs of the rapidly developing electric vehicle (EV) market.
Through the partnership, vehicle owners who use the Green Intelligent Link platform will, through NaaS’ one-stop charging solution, will have access to a network of high-quality charging piles provided by Kuaidian, a NaaS’ partner. In addition, NaaS’ solutions will also give vehicle owners who use the Green Intelligent Link platform, access to a wide range of services that includes more convenient card-based recharging, balance allocation, charging ordering and invoicing. NaaS and Green Intelligent Link have already begun implementing the charging pile interconnections, as well as the order data and payment services for the smart charging scenarios. Once completed, the solutions will offer efficient, convenient, and affordable charging services to commercial vehicle owners.
Geely Commercial Vehicles is the first commercial vehicle group in China to focus on “going electric,” and its Farizon Auto is the first commercial vehicle brand in China to complete the multipoint layout for multi-energy systems and to provide electric power options available across all its product families. Green Intelligent Link, as one of the three platform companies under Farizon Auto, mainly focuses on urban delivery scenarios, with scenario-based customized solutions of fleet management service at its core. The company provides services to Huilian Car Rental, Huilian Car Service and Huilian Intelligent Control, in a move to provide customers with management services spanning the whole life cycle of delivery and logistics EVs.
In order to achieve the China’s “dual-carbon” goals, the transition to electric power is also occurring rapidly in the commercial vehicle market. Data from the China Association of Automobile Manufacturers (CAAM) show that from January to May 2022, 88,000 commercial EVs were sold in China, an increase of 71.4% year on year, in contrast to the 41.9% decline in the overall sales of conventional commercial vehicles. As for commercial EVs identified as being used for delivery in urban areas, 67,600 such vehicles were sold during the period from January to May 2022.
Currently, the number of logistics vehicles in China's urban areas is about 20 million, with new energy vehicles representing only about 3% of the total. With the comprehensive implementation of the China VI vehicle emission standards, the share of electric-powered delivery vehicles is expected to gradually reach 30%-40% of all delivery vehicles within the next few years. During this transition period, pain points such as slow charging and the shortage of support service facilities represent challenges that will need to be addressed.
The collaboration between NaaS and Green Intelligent Link is expected to further enhance charging efficiency and service capabilities for commercial EVs and comprehensively improve the overall charging experience for vehicle owners. “Commercial EVs are becoming a new area of rapid growth,” said Yang Dong, vice president of Geely New Energy Commercial Vehicle Group and general manager of Green Intelligent Link. “Due to special vehicle scenarios, drivers of commercial EVs have a stronger demand for support services. For commercial EV operators, service represents a core need, and, from there, it becomes necessary to expand services across the whole of the value chain to meet the needs of drivers. Operators can also take a further step by implementing intelligent management through collaboration with all service providers across the value chain in combination with the application of digital tools.”
“With guidance and oversight from the relevant Chinese authorities in terms of policy, the transition of commercial vehicles from gas to electric power will continue to accelerate,” said Cathy Wang, Founder and CEO of NaaS. “NaaS positions itself as a ‘connector’ in the renewable energy sector. Through this partnership, we will connect drivers of commercial EVs to an interconnected charging network throughout the entire country further enabling drivers to charge their vehicles, reduce their costs, and ensure the sustainable growth of the commercial EV sector.”
With the rapid development of the renewable energy sector, the transition of adapting commercial vehicles from fossil-fueled to electric power is changing from a “nice-to-have” to a “need-to-have”. In response to this green transformation, commercial EV service platforms such as those provided by Green Intelligent Link and third-party charging service providers such as NaaS are working together to continuously improve operational services for commercial EVs and enhance charging services in an effort to jointly drive the large-scale application of such vehicles and contribute to carbon neutrality in transportation.
About NaaS Technology Inc.
NaaS Technology Inc. is one of the largest and fastest growing EV charging service providers in China. The firm is a subsidiary of NewLink, a leading energy digitalization group in China. NaaS provides one-stop services to charging pile manufacturers and operators, OEMs, companies with their own delivery fleets as well as fleet operators, with online, offline, and non-electric services covering the whole value chain across the EV sector. As of 2021, NaaS had connected 290,000 charging piles, with an annual charging capacity of over 1,200 Gigawatt hours, accounting for about 18% of China’s public charging market and eliminating 900,000 tons of carbon emissions annually. On June 13, 2022, NaaS Technology Inc. was officially listed on NASDAQ under the stock code NAAS.
