(Yicai Global) May 22 -- Chinese online game operator The9 has recently set up a joint venture with electronic vehicle charging equipment maker Shenzhen En-Plus Technology to jointly develop urban charging services.
The unidentified person familiar with the matter who told this to Yicai Global did not indicate the new company's registered capital, shareholding ratio or other details.
The JV will have positioned itself in one to two cities in its first year, installing 10 to 20 large and mid-sized charging stations, and is expected to bring in USD15 million to USD20 million in revenue.
En-Plus Technology is an innovative new energy vehicle charging firm, whose product line spans charging piles, power modules and charging operation management systems. It also provides integrated hardware and software solutions, public information shows.
This project indicates that Shanghai-based The9 is moving into and positioning itself in the NEV industry at all levels, from smart terminals to charging equipment, the source explained, adding that the company is also integrating upstream and downstream resources based on its smart city platform to advance its overall planning.
The firm reached a cooperation agreement with California-based electric car startup Faraday & Future -- founded by controversial entrepreneur Jia Yueting -- in March per which they will jointly create a China JV to produce and sell luxury e-cars, and into which The9 will inject USD600 million.
The company formerly held the exclusive rights to operate and distribute World of Warcraft in China.
Editors: Dou Shicong, Ben Armour