TGOOD(300001.SZ) announced that it has signed Strategic Cooperation Agreement with Wuhu People’s Government in Anhui. TGOOD proposes to cooperate with Wuhu People’s Government in the fields of EV (Electric Vehicle) charging system and terminal network investment construction, charging operation, EV sales, 4S EV maintenance service, EV rental, e-payment and Internet finance, and at the same time jointly develop Internet value-added service.

The announcement shows TGOOD will set up “Wuhu TGOOG Vehicle Charging Co., Ltd.” with Wuhu Communications Investment Co., Ltd. Registered capital of the joint venture is RMB100 million, total investment no less than RMB500 million.

Within three years from the date the Agreement signed on, Wuhu TGOOG Vehicle Charging Co., Ltd. will manage to invest and construct 10,000 sets of AC/DC charging terminals, and management systems such as vehicle charging cloud platform. After completion, the charging terminals and platform will remotely monitor and manage new energy vehicle operation and charging facilities, and provide new energy vehicle with GPS positioning, parking space and charging reservation and mobile Internet-based value-added service.

Source:ResearchInChina