NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS"), the first U.S.-listed EV charging service company in China, announced a significant expansion of its charging network in the fourth quarter of 2024. The number of newly connected chargers in Q4 increased more than 50% compared to that of Q3 of 2024. Notably, over 70% of these new additions were DC fast chargers, reinforcing NaaS's commitment to accelerate fast-charging infrastructure.
This milestone growth highlights the effectiveness of NaaS's strategic initiatives, including the strong collaborations across the EV ecosystem. Most recently, key partnerships included a prominent regional charge point operator in Fujian Province and the State Grid Corporation of China's Hebei EV Charging Service Company. By working closely with charge point operators, auto manufacturers, and government entities, NaaS has not only expanded the network coverage of charging infrastructure, but also optimized operational efficiency and service quality. These initiatives have further solidified the Company's leadership position in China's EV charging market, ensuring a competitive edge in meeting the growing demand for fast and reliable charging solutions.
Ms. Yang Wang, Chief Executive Officer of NaaS, commented, "Our fourth quarter 2024 charging network expansion demonstrates the critical progress we have achieved through recent strategic partnerships. We are fulfilling our commitment and strategic priority in advancing charging interconnection and increasing supply side coverage, especially in offering more fast charging services via our platform. Our consistent deployment of EV charging services with our partners will ensure expanded supply-side infrastructure, accelerate EV user adoption, and further advance our platform in this rapidly growing market."
Mr. Steven Sim, Chief Financial Officer of NaaS, added, "Our ability to drive consistent growth is powered by our innovative approach and strong partnerships across the ecosystem. As one of the largest EV charging platform providers in China, our reliable and scalable core charging services delivered consistent gross take rate increase for the past four quarters, which positions us well to sustainable financial profitability and to further capture market opportunities for the long-term."