A charging plug is seen on an electric vehicle at a newly-opened electric vehicle charging station in the underground parking lot of the Wukesong sports center in Beijing, capital of China, May 16, 2020. (Xinhua/Ju Huanzong)
BEIJING, July 25 (Xinhua) -- China's charging pile sector is enjoying a new round of development opportunities brought by increasing production and sales of new energy vehicles (NEVs) and greater policy support, the Xinhua-run China Securities Journal reported on Monday.
The country added 1.301 million units of charging facilities from January to June, bringing the total number of charging infrastructure to 3.918 million, according to data from China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA).
In the first half of this year, the ratio of newly added charging piles to newly added NEVs was 1:2, which indicated that charging infrastructure could basically meet demands of the fast-developing NEV industry, according to EVCIPA.
China Association of Automobile Manufacturers (CAAM) predicts that in 2022, 5.5 million units of NEVs are likely to be sold in China, up more than 56 percent year on year.
In this context, the charging pile sector will have huge room for growth, said Tong Zongqi, director of the information department of EVCIPA.
Policy support is another important factor for the charging pile industry development. On July 7, the Ministry of Commerce and other government departments rolled out a notice on several measures to invigorate automobile circulation and expand automobile consumption, which proposed to support the construction of charging facilities and accelerate the building of such facilities in residential communities, parking lots, gas stations, expressway service areas, passenger and freight transport hubs.
Localities have also unveiled policies to boost construction of charging infrastructure. For example, Suzhou city in east China's Jiangsu province issued a plan for public charging and battery swap facilities for electric vehicles during the 14th Five-Year Plan period (2021-2025), vowing to build 200,000 charging piles in accumulation by 2025, and invest about six billion yuan in building charging and battery swap facilities from 2021 to 2025.
With policy incentives, the number of domestic charging facilities is expected to reach 17.66 million in 2026, according to Yidu Data, a Shenzhen-based industry data provider.
For China to hit the target of 1:1 vehicle-to-charging pile ratio, the total investment in the charging pile sector will reach trillion yuan-level in the next 10 years, according to Guoyuan Securities. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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