With the sharp increase in the number of electric cars and charging capacity, there is a growing demand in the market for optimizing charging resource allocation through AI technology. NAAS Technology (NAAS.US) recently announced that it will intensify its strategic focus on interconnected charging services, leveraging its own strengths in artificial intelligence (AI) technology. The company will collaborate with industry partners to enhance the ecological development of both the supply and demand sides of the electric vehicle charging industry, aiming to better align with the rapid growth trend of China's electric vehicle industry.

In the first half of this year, NAAS Technology added new electric car brands to its cooperation list, including those under BYD such as Dynasty, Ocean, and Finturry, as well as Nezha, Zhiji, and Extreme. They also added multiple third-party cooperation platforms covering various channels such as digital map providers, commercial vehicles, passenger vehicles, and post-sale services, achieving interconnected charging services. Car owners can easily locate charging stations connected by NAAS Technology, check real-time charging prices, equipment status, and start charging or make payments with a single click.

Wang Yang, the founder and CEO of NAAS Technology, stated: "With the rapid expansion of China's new energy vehicle market, the experience and efficiency of charging services may become a bottleneck limiting the industry's future growth. NAAS Technology is strategically increasing its focus on interconnected charging services, innovatively using AI technology to intelligently match charging supply and demand, in order to meet the urgent needs of both sides of the electric vehicle charging supply and demand, promote a comprehensive upgrade of China's charging infrastructure, and thus drive the high-quality development of the entire charging ecosystem."

"Demand for electric vehicle charging services in China is surging. In the first half of 2024, national charging volume increased by 40% year-on-year. In August, the domestic electric vehicle sales penetration rate reached 53.9%, accounting for 7.4% of the total vehicle market. This has brought significant opportunities to the company." Steven Sim, Chief Financial Officer of NAAS Technology, believes.

During this year's National Day holiday, China's electric vehicle travel and charging volume reached a record high. Statistical data from the National Energy Administration shows that from October 1st to October 7th, the number of electric vehicle charges on national highways totaled 3.1 million times, with an average daily charging amount of 10.31 million kilowatt-hours, which is 2.4 times higher than usual, an 80% year-on-year increase over last year. The rapid increase in the number of electric vehicles and charging capacity has further exacerbated the inefficiency of charging supply and demand matching, making the optimization of charging resource allocation through AI technology increasingly urgent.

Last year, NAAS Technology introduced the NEF (NaaS Energy Fintech) system. This system analyzes driving patterns, user behavior, demands, evaluations of locations, traffic factors, and utilizes machine learning to recommend the best locations, thereby fully automating site selection. The NEF system plays a critical role in the daily operation of charging stations, conducting predictive maintenance of hardware and connectivity management through AI algorithms. Most importantly, the NEF system dynamically adjusts pricing based on real-time charging demand and power supply, enhancing the profitability of charging operators, thereby maximizing site revenue.

Driven by this, in the first half of 2024, Naas Technology signed new cooperation agreements with large central state-owned enterprises and well-known industry enterprises including Southern Power Grid and Ideal Supercharge. Naas Technology will continuously expand the platform's charging network coverage and demand-side user base through extensive cooperation with new energy auto manufacturers, local operators, and other industry participants.