Battery maker Contemporary Amperex Technology (CATL) formed a joint venture with wind farm developer Baicheng New Energy on 6 March with the goal of bringing electric vehicle charging posts to market across China.
The China firms have launched Shanghai Kuaibu New Energy Technology with registered capital of 50 million yuan ($7 million). CATL will hold a 49% share, with the remaining held by Baicheng.
The joint venture aims to develop an integrated system that will deliver energy storage, charging and electric vehicle test services in China, according to the country’s news outlet China Daily.
A test-run of the charging poles is scheduled later this year.
China had installed 1.25 million charging poles, both private and public, by the end of February, according to the country’s charging alliance; a rise of 44% year-on-year.
Financial incentives supporting the new-energy vehicle industry— which began with subsidies in 2009— are scheduled to stop by the end of 2020.
Last April, CATL formed a joint venture with power-system supplier Shenzhen Kstar Science and Technology to develop, produce and sell lithium-ion battery energy-storage products, and photovoltaic energy-storage units that can recharge electric vehicles.