NaaS Technology Forges EV Charging Partnership With Hyundai

EV charging service company NaaS Technology Inc NAAS has partnered with Hyundai Motor Co., Ltd.HYMTF to develop an efficient charging management service for Hyundai car owners.

The parties will empower potential EV charging businesses through partnership. The financial terms were not disclosed.

Hyundai car owners can check charging and charger installation status in real-time through a smart service App or at the center console.

China Association of Automobile Manufacturers (CAAM) statistics suggested that in 2023, electric passenger vehicle sales in China will reach 9 million, with annual penetration of EVs expected to climb to 36%. 

"Charging facilities as a significant component of new infrastructure serves a crucial role in improving the penetration of EVs," said Wang Yang, Founder and CEO of NaaS.

As of March 31, 2023, NaaS' network has connected 55,000 charging stations and 575,000 chargers.

Price Action: NAAS shares are trading lower by 2.67% at $6.55 on the last check Wednesday.

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