China's property giants to build NEV charging poles for households

BEIJING -- Four of China's leading property developers have teamed up with the State Grid in setting up new-energy vehicles charging poles for some 8.7 million households.

Property giant Evergrande Group and the State Grid Corporation of China jointly launched a smart energy services company in Shenzhen earlier this month to install NEV charging poles for each parking space in residential communities.

Other real estate developers including Country Garden, Vanke and Sunac have also joined in the venture, extending the charging services to 5,468 communities operated by the four developers and covering an estimated 31 million residents.

NEV owners in these communities can scan a QR code and pay, while the charging poles automatically complete the recharge when power demand is low.

Evergrande's previous NEV-related projects include a $2 billion-subsidiary and three NEV production bases in the southern Chinese city of Guangzhou with an investment of 160 billion yuan (about $23.25 billion).

China has the world's largest network of charging facilities for NEVs, with one million charging poles installed by the end of June.