Volkswagen Group (China) has announced its collaboration with FAW-Volkswagen to increase capital investment in CAMS (Charging and Mobility Services Technology Co., Ltd) by approximately 800 million Chinese Yuan. This move aims to expedite the expansion of the charging network in China and enhance user experience. The transaction is subject to applicable regulatory approvals, including antitrust clearance, and will be completed upon obtaining such approvals.
Aligned with Volkswagen Group's NEW AUTO strategy, battery and charging have become core businesses for the group. As part of its existing strategy, Volkswagen Group is committed to becoming a comprehensive charging and energy service provider. Currently, the company is partnering with its charging subsidiaries, Elli and Electrify America, along with CAMS, to expand fast-charging network infrastructure globally. According to the current plan, by 2025, the group plans to deploy a total of 43,000 high-power charging terminals in Europe, China, and the United States through collaborations with its partners.
CAMS, which has a strong presence in the Chinese market, was established on May 16, 2019, with headquarters in Changzhou, Jiangsu. As of June 2023, CAMS has established 1,250 ultra-fast charging stations and launched 10,950 charging terminals, covering over 180 cities and serving more than 2 million registered users. By the end of 2023, CAMS is expected to launch 1,335 ultra-fast charging stations and 12,538 charging terminals nationwide, achieving full coverage in 26 core cities, including Beijing, Shanghai, Chengdu, and Shenzhen, providing charging convenience within a 5-kilometer radius of the main urban areas. By 2025, CAMS plans to expand the number of charging terminals to 17,000, equipped with supercharging piles ranging from 120kW to 180kW, or even up to 300kW to 480kW, covering most cities in China.
In addition to the increased capital investment in CAMS, Volkswagen Group (China) and CAMS have partnered with State Grid EV Service Co., Ltd. to jointly launch a pilot project for Vehicle-to-Grid (V1G) charging in the Beijing-Tianjin-Hebei region. This initiative aims to explore sustainable and flexible charging solutions and reduce customer charging costs.
In the V1G pilot project, smart remote control technology will enable power adjustment of the charging wall boxes based on grid load requirements, promoting "peak shaving and valley filling," balancing power supply and demand, and helping maintain grid stability. This will result in lower charging costs for customers. The first phase of the project is planned to run from July 2023 to June 2024 and intends to recruit 2,400 electric vehicle users to participate in the Beijing-Tianjin-Hebei region.
