(Photo Credit: Shenzhen EN-plus Technologies)
The push for China to embrace green technologies continues as Chinese internet company The9 has signed an agreement with electric vehicle charging equipment company Shenzhen EN-plus Technologies (EN+). The joint venture’s goal will be to engage in sales of new energy electric vehicle charging equipment, investment, construction and operation of charging stations, and provision of operational services for urban charging equipment and platforms for electric vehicles.
According to the agreement, The9’s wholly owned subsidiary Shanghai Jiuchang Investment will make a cash investment of RMB50 million in the joint venture for 80% equity interest, and EN+ will contribute its current and future proprietary electric vehicle charging technology for the remaining 20% equity interest of the joint venture.
The joint venture plans to set up 10 to 20 charging stations in the first year after the capital injection and set up 30 to 50 charging stations in the second year after the capital injection.
The9 will be responsible for the market development and the construction and operation of electric vehicle charging stations owned by the joint venture, while EN+ will offer its latest product designs, ensure quality standards and production technology, free of charge, to ensure that the quality of the products meets the technical requirements of China’s industry standards. EN+ will also provide technical support and train relevant personnel for free and will be responsible for the after-sales service and maintenance of the products.
“Our plan is to integrate the upstream and downstream industry resources of the electric vehicle business and our vision is to make contribution to China’s development of proprietary new energy electric vehicle industry,” said Zhu Jun, CEO of The9.