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SAIC to build 50,000 charging poles in five years

SHANGHAI – SAIC announced on October 28 establishment of SAIC Anyue Charging Technology Co., Ltd. and a plan of building 50,000 public charging poles by 2020 nationwide.

With an investment of ¥300 million ($47.6 million), the newly built subsidiary of SAIC will focus on charging system and terminal network building, charging and leasing system management, new energy vehicle sales and maintenance, parking lot resources integration, e-payment, internet finance and other business related to NEVs.

SAIC has invested over ¥6 billion in the NEV sector and will add ¥20 billion in five years. It plans to launch more than 30 new NEV models in five years and sell 600,000 NEVs (including 200,000 local brand models) by 2020.

SAIC’s NEV R&D team now has a workforce of 750 people and the number will be increased to over 2,500 by 2020.

SAIC has set a goal of selling 13,000 NEVs this year, including 12,000 Roewe 550 plug-in hybrids. It sold 8,500 NEVs in the first nine months of the year.

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