Chinese electric vehicle (EV) maker Nio (NYSE: NIO) on Saturday announced its Power Up Plan, which aims to deploy more than 30,000 destination DC charging stations in China with a total subsidy of 100 million yuan.
Under the plan, Nio will subsidize RMB 1,000 yuan per post per year for a total of three years for partners who share their destination fast-charging resources, set up their DC posts in public places and waive charging fees for Nio vehicle owners.
In recent years, the construction of the charging infrastructure in China has accelerated against the backdrop of rapid growth in electric vehicles.
As of August 2020, China had 592,000 public charging piles, including 341,000 AC charging piles, 250,000 DC charging piles, and 488 AC-DC integrated charging piles.
From September 2019 to August 2020, about 10,000 new public category charging piles were added per month, up 29.9% year-on-year in August 2020.
In terms of operators, the concentration of public charging infrastructure operators is high.
As of August 2020, there were 9 charging operators operating more than 10,000 charging piles, namely:
Teld, 166,000.
Star Charge, 139,000.
State Grid, 100,000.
YKCCN, 47,000.
EV Power, 25,000.
Anyo Charging, 20,000.
Potevio, 14,000.
Car Energy Net, 14,000.
Eichong, 10,000.
These eight operators accounted for 90.3% of the total, while the remaining operators accounted for 9.7% of the total.
Among them, Nio's charging station holdings were 1,326 as of August. With Nio's new energy replenishment plan, the number of charging stations will grow further in the future.
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