On its three-year anniversary, CAMS New Energy Technology has taken stock and announced a new product roadmap. So far, the joint venture for charging infrastructure in China, established in 2019 by Volkswagen Group China, JAC, FAW and Star Charge, has built 760 fast charging sites with more than 7,000 charging points in 100 Chinese cities.
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Star Charge has signed a contract with VinBus to cooperate in the establishment of the first electric bus service system in Vietnam. According to the agreement, Star Charge will provide advanced smart charging technology for VinBus, who will field the fleet.
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Volkswagen will invest around 15 billion euros in electric mobility in China by 2024 with its three joint venture partners SAIC, FAW and JAC. This comes in addition to the €33Bn the Group had already announced in 2019 for the global development of the electric car sector.
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The Chinese EV charging company Star Charge has completed a funding round totalling $125 million. Chief investors included Schneider Electric and the Chinese CICC Capital’s sub fund.
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Volkswagen has now officially launched the joint venture for charging infrastructure announced in May in China together with their Chinese partners JAC and FAW, as well as Star Charge. The joint venture is called CAMS New Energy Technology.
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Volkswagen intends to offer Chinese customers a total of 14 electrified models this year, said Group CEO Herbert Diess at the first World New Energy Vehicle Congress in the southern Chinese city of Boao.
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In China, state-owned energy providers and private companies have formed a joint venture called Xiongan Lianxing Network Technology, which is now the largest operator of charging stations and controls 80 percent of the country’s current 730,000 charging stations.
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The two EV charging infrastructure specialists from Germany and China have entered a collaboration to connect their charging networks, opening the door for new customers from around the world.
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