TGood says EV battery charging unit breaks even
Source:Automotive News China | Author:Automotive News China | Publish time: 540 days ago | 345 Views | Share:

Qingdao TGood Electric Co., China’s largest developer and operator of battery charging sites for electric vehicles, said its battery charging unit is now breaking even.

The volume of electricity supplied through its EV charging facilities achieved a compound annual growth rate of 200 percent since 2016, the Shenzhen-listed company said. 

In 2018, the electricity supplied by the unit reached 1.13 billion kWh, TGood said in a statement. 

“Along with the rapid increase in electricity charged and the growth of the unit’s other associated businesses, the battery charging unit broke even in 2018,” the company noted. 

TGood didn’t release more details about the performance of the EV charging unit. 

TGood, incorporated in the east China port city of Qingdao in 2004, started out as a specialized developer and producer of power transformation and distribution equipment for the railway, coal-mining and power industries. 

In 2015, the company began developing and operating EV battery charging facilities. 

At the end of January, TGood operated some 122,000 EV battery charging stations and poles across China, accounting for nearly one-third of the national total, according to the China Association of Automobile Manufacturers.