On Februray 20, NaaS Technology (NASDAQ:NAAS), the first US-listed EV charging service company in China, and Foshan Chancheng City Construction Group Co., Ltd. (Hereinafter referred to as Chancheng City Construction Group) signed a strategic cooperation agreement at NaaS' headquarters in Anji, Zhejiang. The two parties will establish a joint venture with a planned investment of RMB 1 billion, focusing on new energy infrastructure investment management, in an effort to promote the construction and development of new energy infrastructure.
The strategic cooperation agreement was signed by Sun Weilin, Co-founder and CEO of NewLink, and Xu Jianxi, Secretary of the Party Committee and Chairman of Chancheng City Construction Group. Witnessing the signature ceremony were Chen Xinwen, Director of Foshan Investment Promotion Bureau, Yu Xiang, Vice President of NaaS, Wu Yutao, Member of the Party Committee and Deputy General Manager of Chancheng City Construction Group.
Under the agreement, NaaS and Chancheng City Construction Group will establish a joint venture in Chancheng District, Foshan City, with a planned investment of RMB 1 billion. The joint venture will engage in various businesses including new energy infrastructure investment management (such as NEWLINKS, charging stations, PV projects and energy storage projects), infrastructure operation and maintenance services, and charging safety testing.