(Yicai Global) May 27 -- Famous internet game operator The9 will invest in electric vehicle charging technology startup Shenzhen EN-plus Technologies.
The two will set up a joint venture to sell charging equipment and build charging stations.
The9 has penned a deal with EN-plus Technologies to form the JV through a subsidiary, the Shanghai-based game operator announced today. The9 Limited, which contributed cash, holds 80 percent share of the JV, while the Shenzhen-based firm holds the remaining 20 percent share after contributing proprietary technologies to the JV. The parties did not disclose the investment amount, however.
The JV will set up 10-20 large and mid-sized charging stations in the first year in one to two cities, and establish 30-50 in the second year in three to five cities, The9 said.
The9 will be undertake market exploration for the JV and construction and operation of charging facilities, The9's management told Yicai Global, adding EN-plus Technologies is to provide latest charging equipment and technical support, as well as personnel training and after-sales maintenance services to the JV.
EN-plus Technologies, established in 2015, is a startup that develops, makes and sells EV charging equipment and operate a sales platform.
Over 20 provinces and cities already use its products, public information shows.
Editors: Tang Shihua, Ben Armour