The9 announced that its subsidiary has signed a joint venture agreement with electric vehicle charging device and operating platform provider Shenzhen EN-plus Technologies.
According to the agreement, the two parties will establish a joint venture, which will be engaged in the sales of new energy electric car charging devices and the construction, investment, and operation of charging stations. The9 will make cash investment and own a 80% stake in the JV; while EN-plus will invest its exclusive technologies in the JV and own a 20% stake.
Meanwhile, The9 will be responsible for the JV's market expansion, the construction of new energy charging stations, and operating services of the new energy charging stations; and EN-plus will provide free product designs, quality standards, production processes, and technical supports to the JV.
The two parties plan to build 10 to 20 large and medium charging stations in one or two cities in the first year and they will continue to expand to three to five cities with 30 to 50 large and medium charging stations in the second year. Based on the development status, The9 will decide its following investments in the JV.
Headquartered in Shenzhen, EN-plus Technologies is specialized in the research and development, production, sales, and operation platform of new energy electric vehicle charging devices and its products cover AC charging pile, DC charging pile, power module, and charging operation management system. At present, its products have been applied in more than 20 cities and provinces in China, covering over 400 charging sites.