The largest operator of EV charging stations is born in China
State Grid Corporation of China, the world's largest power company and China Southern Power Grid have partnered with two local private firms to establish the country's electric vehicle charging operator. The new joint venture company called Xiongan Lianxing Network Technology Company headquartered in Xiongan in Hebei province, has a capitalization of about 72 million dollars and controls over 80% of the 730,000 charging stations already operating in China. The new company aims to roll out more charging stations across the year in support of the government's new-energy vehicle policy, which requires carmakers to sell an increasing proportion of new-energy vehicles (mainly plug-in hybrids and electric vehicles) every year starting in 2019. These mainly include plug-in hybrid and electric vehicles.