NaaS Technology Partners with NHOA TCC to Advance AI-Driven EV Charging Solutions in China

NaaS Technology and NHOA TCC Form Strategic Partnership

NaaS Technology Inc. (Nasdaq: NAAS), the first U.S.-listed EV charging service company in China, has announced a strategic memorandum of understanding (MOU) with TCC Energy Storage Technology (Hangzhou) Co., LTD. (NHOA TCC), a subsidiary of TCC Group Holdings. This partnership aims to advance integrated solar-charging-storage solutions for electric vehicles (EVs) in China's rapidly expanding New Energy Vehicle (NEV) market 1

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Leveraging AI for Enhanced Charging Solutions

The collaboration will focus on leveraging AI-driven technology to optimize operational efficiency and enhance user experience in EV charging. NaaS will integrate approximately 200 charging terminals equipped with photovoltaic and energy storage systems at TCC Hangzhou C.KOO Building into its charging platform. The company will provide comprehensive services, including:

1. User profiling
2. Targeted marketing
3. Order management
4. Payment solutions

Central to this partnership is the implementation of an AI-driven intelligent operation management system. NaaS will utilize its NEF (NaaS Energy Fintech) system for real-time monitoring of charging pile operations, dynamic electricity pricing, and advanced services such as intelligent site selection, revenue assessments, and ROI calculations 2

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Market Context and Growth Potential

China's NEV market is experiencing significant growth, with domestic NEV retail sales reaching 1.5 million in November 2023, representing a year-over-year increase of 50.8% and a penetration rate exceeding 50% for five consecutive months. This surge is driving increased demand for efficient and innovative charging solutions 1

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Strategic Implications for NaaS Technology

Ms. Yang Wang, CEO of NaaS, emphasized the importance of this partnership in exploring innovative applications of integrated solar-charging-storage systems and refining the EV charging industry's supply and demand ecosystem. The company plans to continue expanding its charging infrastructure coverage, diversifying charging service scenarios, and accelerating the application of AI across the entire value chain of the EV charging industry 2

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Financial Outlook and Shareholder Value

Mr. Steven Sim, CFO of NaaS, highlighted the partnership's potential to create new monetization opportunities and meet long-term financial goals. He stated that the collaboration strengthens NaaS's position in the evolving EV charging market and reinforces the company's commitment to delivering consistent, long-term value for shareholders 1

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About the Companies

NaaS Technology Inc. is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The company provides one-stop solutions to energy asset owners, supporting every stage of energy assets' lifecycle and facilitating energy transition 2

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TCC Group Holdings has been transforming from a traditional cement manufacturing company to a green engineering company, focusing on low-carbon construction materials, resource cycling, and renewable energy. In 2021, TCC acquired NHOA, an Italy-based energy storage system and EV charging infrastructure provider, strengthening its position in the green energy space 1

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