NaaS Technology Inc. ( NAAS ) inked a pact with China Southern Power Grid (Hainan) EV Service Co to bolster the connectivity of charging infrastructure and payment service in Hainan Province.

Hainan Province has the highest penetration rate of EVs among China’s provincial regions, NaaS Technology ( NAAS ) said in a press release.

NaaS ( NAAS ), in partnership with its strategic ally Kuaidian APP, has integrated 193 charging stations and 700 DC chargers from CSG Hainan EV into its nationwide charging infrastructure network.

As of September 30, 2023, NaaS ( NAAS ) said it has connected 73,000 charging stations and 767,000 chargers. In the third quarter of 2023, the charging volume of NaaS ( NAAS ) reached 1.383 billion kWh, representing 21.8% of the national total.

Earlier this month, the company announced a strategic cooperation agreement with China Construction Third Engineering Bureau (CCTEB) in Wuhan. 

The collaboration will integrate NaaS’ competence in energy assets addressing and digital operation with CCTEB’s construction practices, to jointly expand the charging infrastructure networks as well as enhance the operational efficiency.

On March 7, the company announced a strategic partnership with CATARC New Energy Vehicle Test Center (Tianjin) Co. 

NAAS ( NAAS ) stock has lost over 70% in the last 12 months.

Price Action: NAAS ( NAAS ) shares are trading higher by 0.87% to $1.16 premarket on the last check Friday.