Shanghai (ZXZC)- On August 6, China's National Development and Reform Commission, National Energy Administration, and the National Data Administration jointly released the "Action Plan for Accelerating the Construction of a New Power System (2024-2027)" (hereinafter referred to as the "Action Plan"). The plan outlines specific measures in response to the rapid development of electric vehicle (EV) charging infrastructure, making the expansion of the EV charging network one of the nine key initiatives for 2024-2027.

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As the development of China's new energy vehicle (NEV) sector speeds up, the increasing number of NEVs demands a corresponding expansion in charging infrastructure. Additionally, EV batteries, serving as energy storage resources, provide greater flexibility for the power system's regulation.

According to the data from the China Association of Automobile Manufacturers ("CAAM"), China's NEV sales in the first half of this year reached 4.944 million units, up 32% year-on-year, with a market share of 35.2%. Alongside the growing number of NEVs, charging infrastructure has steadily increased in the country, surpassing 10 million units by mid-year. The current charging service network can adequately meet the charging needs of NEVs nationwide.

A key official from the Department of Electricity of China's National Energy Administration stated that the "Action Plan" addresses the large-scale charging demand and effective utilization of energy storage resources from EVs. It proposes enhancing the layout of the charging infrastructure network, promoting the integration of EVs with the power grid, and establishing a comprehensive standard system for charging infrastructure to accelerate the integration of EVs with the energy transition.

The Action Plan highlights several core issues in the industry, such as expanding highway charging network coverage, promoting smart orderly charging, and accelerating the revision of standards.

For instance, the plan focuses on the strategic deployment of public charging infrastructure in residential areas, office areas, commercial centers, industrial centers, and recreational centers. It aims to expand highway charging network coverage, strengthen charging services during holidays, and increase charging facilities in rural areas, gradually building a comprehensive charging infrastructure network. The plan also calls for the rapid development and revision of advanced EV charging and battery swapping technology standards, exploring vehicle-to-grid interaction standards, and enhancing standards for the planning, design, construction, and operation of charging infrastructure, with an emphasis on internationalization.