NaaS (NASDAQ: NAAS), the first listed EV charging service company in China, showcased its latest innovations at the Power2Drive Europe exhibition. The event, held as a part of The smarter E Europe - the largest platform of Europe’s energy industry – took place at the Messe München in Munich, Germany between June 14 and 16, 2023. 

Power2Drive Europe, an esteemed international exhibition dedicated to charging infrastructure and E-mobility, serves as a prominent platform to showcase the latest advancements in charging systems, electric vehicles (EVs), traction batteries as well as mobility services. As a part of The smarter E Europe platform, the event is collectively expected to feature over 2,400 exhibitors and attract more than 85,000 visitors, making it a significant gathering for industry professionals and enthusiasts alike.

NaaS made a notable debut in Europe with the introduction of its automatic charging robot at the exhibition. Created by the NaaS Automatic Energy Replenishment Solution team, this innovative robot is equipped with a comprehensive set of sensors optimized for enclosed environments. The charging bot is capable of performing various tasks, including navigation and connecting to the vehicle's charging port, all without requiring human intervention. Users can conveniently summon the bot by simply tapping on their smart devices, which streamlines the charging process for drivers to a great extent.

At the event, NaaS also showcased its fully digitized charging service platform, along with its hardware offerings designed for both consumer and enterprise applications. The company’s flexible solutions portfolio, encompassing 7kW to 22kW AC products, caters to a range of home EV charging needs and scenarios. 

In addition to its charging solutions, NaaS emphasizes its commitment to greenifying the transportation industry by leveraging solar energy solutions provided by its partners. 

The trend of ICE to EV transition is happening all over the world. The global shift from internal combustion engines (ICE) to EVs is a prevalent trend witnessed across the globe. According to the International Energy Agency，the global penetration rate has hit 14% with projections indicating a further increase to 60% by 2030. Particularly in the European Union (EU), the penetration rate in the EU is surging at an impressive pace. 

However, there exists a significant gap between the number of EVs and available charging infrastructure in the EU, with EVs outnumbering chargers by a ratio of 14 to 1. NaaS's key strength lies in its comprehensive ecosystem which has demonstrated success in the complex Chinese market. By providing a full suite of services along with its innovative business model, NaaS has established itself as a reliable and trusted player in the EV charging industry, and it is ready to capture the untapped market potential.

“Europe is obviously a mature market where the EV penetration rate is high and the ecosystem is well developed,” said Allen Dong, NaaS's President of Europe and the Middle East. “It has also fostered favorable market conditions for EVs to thrive in the long term, offering the right opportunity for NaaS to support its growth. Our strategy in the EU is to leverage the existing sales and marketing channels.” 

NaaS accounted for 20% of the country's public charging volume in 2022 and has connected 55,000 charging stations and 575,000 chargers as of March 31, 2023. The company’s participation in Power2Drive Europe exemplifies its unwavering dedication to introducing state-of-the-art sustainable solutions on the global stage. As the company accelerates its international business strategy in Europe, NaaS is also actively exploring opportunities for expansion into other key regions, such as Southeast Asia, the Middle East, and other global markets.

Previously, NaaS has completed the SPO transaction of 3.5 million American Depository Shares (ADS). The transaction involved notable investors such as Dr. Adrian Cheng and CST Group (0985:HK), a well-established HK-listed company. On June 12, NaaS further announced to have acquired over 89% stake in Sinopower HK.