(ATF) China’s State Grid has begun building a new batch of charging stations for electric vehicles (EVs).
The state-owned company plans to invest 2.7 billion yuan ($384 million) in the programme, which will see 78,000 new charging facilities added to the nation’s roads, according to CCTV Financial News.
The projects will get underway in 24 provinces and cities.
It’s estimated that the move will stimulate the adoption of EVs, potentially boosting sales to more than 20bn yuan, the report said.
The report cited Societe Generale Securities forecasts that charging station development would be an important driver of EV growth worldwide.