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China may invest RMB 4.8 bln in EV charging stations by 2015

Apr. 10, 2012 (China Knowledge) - China may spend not more than RMB 4.8 billion or US$763.72 million on building electric-vehicle charging stations by 2015, said analysts from Ping An Securities, controlled by Ping An Insurance (Group) Co<601318><2318>.

The analysts made such forecasts as state-owned China Southern Power Grid Co aims to cut 100 million tons of coal and 300 million tons of carbon dioxide emissions by 2015 in line with the country's 12th five-year plans, starting from 2011 to 2015, on Energy Conservation and Emission Reduction.

Total demand for EVs in China are expected to increase with an average annual growth rate of over 200% till 2015, said the analysts.

China Southern Power Grid also intends to build charging stations in five provinces this year, said a person familiar with the matter.

State Grid Corp of China, the nation's largest power supplier, built 156 charging stations and 6,252 charging posts last year in Chinese major cities, including Beijing, Suzhou, Shanghai, Hangzhou and Qingdao, sources reported.

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