What NaaS Technology does

NaaS Technology (能链智电, NASDAQ: NAAS) is a Beijing-headquartered digital platform company that aggregates and operates services across China's fragmented electric vehicle charging ecosystem. Founded in 2019, the company connects more than 575,000 chargers across 50,000+ stations in 358+ cities, capturing approximately 21% of China's public EV charging volume as of Q1 2023. Its core technology is a cloud-based operating system that integrates charger hardware management, load aggregation, energy trading, virtual power plant coordination, and a digital carbon-asset trading platform, with AI algorithms applied to load prediction, dynamic dispatch, site selection, and an autonomous charging robot using deep learning, 5G/V2X, and SLAM.

The company serves four primary customer segments: small-to-medium charging station operators (one-stop services for site selection, hardware procurement, energy procurement, EPC, and operations); EV manufacturers (embedded in-vehicle charging navigation and one-click payment across 50+ brands including Li Auto, NIO, AITO, ZEEKR, FAW-Volkswagen, BYD, and Xiaomi); commercial fleet operators (charging cards, energy management, driver app integration); and government entities (provincial supervision platforms, infrastructure planning). Revenue is generated through transaction-based take-rates on charging sessions, hardware sales (AC wallboxes 7-22kW, DC fast chargers 120-480kW, liquid-cooled ultra-fast chargers), EPC and engineering services, electricity procurement brokerage (under electricity sales permits), virtual power plant trading, and non-electric value-added services at charging sites (unmanned retail, dining, massage chairs, advertising).

The platform extends beyond charging into solar-storage-charging integrated solutions, energy storage products (AIPack), virtual power plant aggregation, and carbon credit trading, with 60+ granted patents and ESG positioning that scores in the top 2% of global peers per S&P Global. The company listed on NASDAQ on June 13, 2022, becoming the first US-listed Chinese EV charging service company, and raised approximately US$200M+ across Series A, private placements, convertible notes (notably US$70M from LMR Partners in 2023), and registered direct offerings. As of 2026, the company faces Nasdaq minimum market value non-compliance and has undergone significant share capital restructuring, while continuing to expand internationally via the June 2023 acquisition of 89.99% of Hong Kong Photovoltaic Holdings.

Name

NaaS Technology

Legal name

浙江安吉智电控股有限公司

Website

https://enaas.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

NaaS Technology (能链智电, NASDAQ: NAAS) operates China's largest third-party EV charging network, connecting 575,000+ chargers across 50,000+ stations in 358+ cities. It serves charging station operators, EV manufacturers (50+ OEM integrations), commercial fleets, and governments with cloud-based charging management, energy storage, virtual power plant, and carbon trading services.

Ownership category

akta.pro rank

Product category

EV Charging Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Electrical Equipment Manufacturing (3353)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

EV Charging Network Management & Software Services (CPMS, Monitoring, Billing) (TLAKAMAG)

akta.pro secondary industries

Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA), Energy Storage Software & Controls (EMS, monitoring, optimization, cybersecurity) (IMAGAHAJ), EV & Fleet Charging Equipment (AC/DC chargers, depot charging systems) (IMAGAHAF)

Keywords

• EV charging services
• Charging network platform
• Virtual power plant
• EV charging hardware
• Carbon asset trading

Headquarters

HQ city

Anji

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Supply Chain, Operations, Infrastructure

Revenue model

1. Charging Service Fees (Transaction-based): NaaS earns a take-rate or transaction fee on every charging session facilitated through its platform. The company connects EV drivers to charging stations via its online aggregation network and takes a percentage of charging volume or transaction value.
2. Charging Hardware Sales: Sale of EV charging equipment including AC wallboxes (7kW-22kW), DC fast chargers (120kW-480kW), and liquid-cooled ultra-fast chargers to charging station operators and enterprise customers.
3. EPC and Engineering Services: Engineering, Procurement, and Construction services for charging station deployment including site planning, power infrastructure, hardware installation, and commissioning.
4. Non-Electrical Value-Added Services: Revenue from provision of unmanned retail cabinets, smart vending, shared massage chairs, and dining services at charging stations, as well as advertising and digital services at charging sites.
5. Virtual Power Plant and Energy Trading: Aggregates distributed charging assets to participate in demand response programs and electricity market trading, earning fees for grid balancing services and电力交易代理 services.
6. Electricity/Energy Procurement Services: NaaS acts as an electricity procurement intermediary, purchasing electricity in bulk for charging station operators and earning margins on the spread. The company has obtained electricity sales permits for this activity.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

NaaS Technology operates a cloud-based EV charging service platform that aggregates China's fragmented charging stations into a single nationwide network of 575,000+ chargers across 358+ cities, connecting EV drivers to third-party charging operators through the Kuaidian app and OEM-embedded integrations. The company sells EV charging hardware (AC wallboxes, DC fast chargers, automated charging robots), provides EPC and operational services, operates a Virtual Power Plant, and offers Solar-Storage-Charging integrated solutions and a carbon asset trading platform to charging station operators, EV manufacturers, commercial fleets, and government entities.

Product overview

NaaS Technology (能链智电, NASDAQ: NAAS) is China's first US-listed EV charging service company, operating as a comprehensive new energy digital service platform. The company offers a multi-layered portfolio consisting of: (1) the core NaaS Charging Network Platform providing digital connectivity between charging operators, manufacturers, and users; (2) hardware products including AC Wallbox (7kW-22kW), DC Fast Chargers (120kW-480kW), and Automatic Charging Robots for various charging scenarios; (3) AIPack energy storage solutions; (4) Virtual Power Plant software for grid management; (5) Solar-Storage-Charging integrated solutions; (6) Carbon Asset Trading Platform; and (7) operational services including site selection, EPC, and non-electric services. The ecosystem also includes strategic partner KuaiDian for user aggregation and subsidiary Hong Kong Photovoltaic for distributed solar services.

Differentiator

Problem solved

Functional benefit

Brands

• 快电 (Kuaidian): Strategic partner and China's top EV charging app for finding and paying for charging services
• 能链海博
• 能仓科技
• 智电来了
• 香港光电
• 能链智维

Products and services

• NaaS Charging Network Platform Digital platform connecting EV charging operators, EV manufacturers, and end users across China; provides online charging solutions, offline operational services, and non-charging value-added services covering the full new energy value chain.
• NaaS AC Wallbox Charger (7kW/11kW/22kW) Home and commercial AC charging stations certified to EU CE and TUV Rheinland standards; features remote control and monitoring via mobile app, flexible charging time settings, and OTA upgrade capability.
• NaaS DC Fast Charger (120kW / 160kW / 240kW / 480kW) DC fast charging stations from 120kW to 480kW, including liquid-cooled super-fast charging piles; designed for public charging stations, special transport vehicle stations, and high-power charging scenarios.
• Automatic Charging Robot (NaaS Charging Robot) Autonomous robotic arm EV charging system using deep learning, 5G/V2X, and SLAM for automatic vehicle finding, precise positioning, mechanical arm charging, automatic departure, and automatic return charging.
• AIPack Energy Storage Products Energy storage solutions including liquid-cooled energy storage cabinets, prefabricated cabin storage systems, portable energy storage, and stacked energy storage products for industrial, commercial, and charging station applications.
• Virtual Power Plant (VPP) Product Smart energy management software aggregating EV chargers, energy storage, distributed solar, and charging stations through a cloud platform for participation in power market trading and grid dispatch, helping charging stations reduce energy costs.
• Solar-Storage-Charging Integrated Solution Integrated solution for charging stations combining distributed rooftop solar, energy storage facilities, and EV charging infrastructure, covering project planning, procurement, construction, and daily operations for clean energy self-consumption.
• Carbon Asset Trading Platform Self-developed platform providing end-to-end carbon asset solutions including carbon asset development, digital ledger management, certification application, and transaction execution for EV charging carbon credits.
• EPC and Engineering Services Engineering, Procurement, and Construction services for charging station deployment including site planning, power infrastructure, hardware installation, and commissioning for charging station operators, real estate developers, and government partners.
• Charging Station Operations and Site Selection Services City-level operations services (NaaS EV OASIS) across 288+ cities including AI-powered intelligent site selection, daily operations, maintenance, safety inspections, and customer service for charging stations; uses deep learning, spatial interpolation, and business district analysis for traffic and revenue forecasting.
• Non-Electrical Value-Added Services at Charging Stations Value-added services for charging stations including unmanned retail cabinets, dining services, massage chairs, smart vending machines, and digital advertising to enhance user experience and station profitability.
• Private Charging Pile Sales (Consumer AC Wallbox) Sale and installation of private AC charging piles (私桩销售) to individual EV owners through NaaS's consumer services channel, with companion mobile software for remote control and monitoring.

Quantifiable outcome

• 2022 full year carbon reduction of 184.77万吨 CO2, up 106% from 89.68万吨 in 2021
• +4 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability7 records

Feature5 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Xiaomi (小米集团)coreStrategic or Co-development Partner · 17 March 2025NaaS Technology announced a strategic partnership with Xiaomi Corporation to build a new ecosystem for interconnectivity in China's EV charging sector. The partnership enables NaaS's charging services to be integrated into Xiaomi's 'Human × Car × Home' ecosystem strategy, benefiting Xiaomi's EV business and its millions of AIoT device users.
• China Energy Engineering Corporation (中国能建)minorStrategic or Co-development Partner · 8 September 2023NaaS subsidiary 能仓科技 signed a strategic cooperation with China Energy Engineering Corporation to accelerate the construction of green transportation infrastructure.
• China Resources Capital (华润资本)minorStrategic or Co-development Partner · 25 August 2023China Resources Capital and NaaS/NaaS parent company entered a strategic cooperation to deeply layout new energy infrastructure construction, leveraging CR Capital's financial resources and NaaS's digital charging network.
• Hyundai Motor Group China (现代汽车集团中国)minorStrategic or Co-development Partner · 14 August 2023NaaS partnered with Hyundai Motor Group China to build a shared EV charging service ecosystem, integrating NaaS's charging network into Hyundai's vehicle ecosystem.
• Science Based Targets initiative (SBTi)minorStrategic or Co-development Partner · 4 August 2023NaaS Technology joined the Science Based Targets initiative (SBTi), committing to set greenhouse gas emission reduction targets in line with the 1.5°C global warming scenario.
• Dongfang Risheng (东方日升新能源股份有限公司)minorStrategic or Co-development Partner · 27 July 2023NaaS subsidiary 能链智维 partnered with Dongfang Risheng (stock 300118.SZ) to promote rural household solar PV projects in Guangxi provinces, helping rural residents generate income from solar energy.
• UN Global Compact (联合国全球契约组织)minorStrategic or Co-development Partner · 30 June 2023NaaS Technology officially joined the UN Global Compact in October 2023, aligning with the organization's principles on human rights, labor, environment, and anti-corruption.
• Hong Kong Photovoltaic (香港光电控股有限公司)coreStrategic or Co-development Partner · 21 June 2023NaaS acquired 89.99% of Hong Kong Photovoltaic (Sinopower Holdings International Co. Limited) for approximately US$6.1 million. Hong Kong Photovoltaic operates over 600 solar engineering projects in Hong Kong and ranks #1 in Hong Kong's commercial/industrial rooftop solar market with a 30% market share. The acquisition enables NaaS to enter the distributed solar market and expand to Hong Kong's EV charging services.
• Beijing Jingneng International (北京京能国际综合智慧能源有限公司)minorStrategic or Co-development Partner · 14 June 2023NaaS signed a strategic cooperation agreement with Beijing Jingneng International to collaborate on charging station construction and operations, distributed solar, energy storage, PV-storage-charging integration, green electricity trading, and virtual power plant development.
• Dingding Mayilian (订单来了)minorStrategic or Co-development Partner · 1 June 2023NaaS and hotel PMS provider Dingding Mayilian established a joint venture '智电来了' to build an EV destination charging service network, providing integrated charging solutions for hotels and homestays across China.
• HyperScience (海博思创)coreStrategic or Co-development Partner · 17 January 2023NaaS subsidiary 能仓科技 partnered with HyperScience to establish a joint venture '能链海博' (NaaS Haibo), focusing on diverse energy storage solutions. The JV addresses charging station energy storage, industrial/commercial energy storage, and new energy generation-side storage applications, leveraging HyperScience's GW-level energy storage system design and operational experience.
• National Intelligent Vehicle and Smart Transportation Demonstration Zone Shunyi Base (国家智能汽车与智慧交通示范区顺义基地)minorStrategic or Co-development Partner · 26 January 2022NaaS entered a strategic cooperation with the Shunyi Base to collaborate on charging infrastructure and autonomous charging research for autonomous vehicles. NaaS was the first industry company to partner with a national-level autonomous vehicle testing zone.
• CATL (宁德时代)minorStrategic or Co-development PartnerXiaomi has strategic partnerships with CATL, Toyota, and NaaS Technology as part of its integrated 'Human × Car × Home' ecosystem strategy, though NaaS's direct partnership details with CATL are not explicitly stated in the provided materials.
• Solactive (德国指数编制公司)minorStrategic or Co-development PartnerNaaS was included in the Solactive Electric Vehicle Charging Infrastructure Index managed by German index provider Solactive.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Allego: Allego is a European public EV charging network platform offering charging services, software, and infrastructure across multiple European geographies. Like NaaS, Allego operates a network-aggregator business model selling both hardware and recurring service revenue.
• Blink Charging: Blink Charging is a US-based owner/operator and provider of EV charging equipment and networked charging services. While more asset-heavy than NaaS, it competes in the same EV charging services category with hardware sales plus network subscription/transaction revenue.
• ChargePoint: ChargePoint operates one of the largest EV charging networks globally with a software-driven platform connecting chargers, drivers, and site hosts. Both NaaS and ChargePoint are pure-play third-party charging network platforms serving similar aggregator business models across B2B and B2C segments.
• Star Charge (星星充电): Star Charge is one of China's largest EV charging operators and a direct competitor to NaaS in the Chinese market. Both companies compete to onboard charging station operators, integrate with EV manufacturers, and aggregate supply onto a unified network accessible to drivers.
• TELD (特来电): TELD is a leading Chinese EV charging operator and a subsidiary of TGOOD. It competes directly with NaaS for charging station operator partnerships and OEM integrations in China, and operates both its own hardware and a network platform.
• EVgo: EVgo is a US-based public EV charging network operator that, like NaaS, provides both charging hardware deployment and a software/network platform connecting drivers and operators. Both companies operate capital-light-ish business models with similar revenue streams (transaction fees + hardware).

Broad incumbents

• ABB E-mobility: ABB E-mobility is a global leader in EV charging hardware manufacturing and infrastructure solutions. While focused primarily on hardware, ABB competes with NaaS in DC fast charger supply and broader charging ecosystem services globally.
• NIO Power: NIO Power operates NIO's proprietary battery swap and charging infrastructure, a vertically integrated competitor to NaaS's aggregator model in China. As NIO expands its network and OEM customers, it represents a direct substitute for some of NaaS's OEM-embedded services.
• Tesla Supercharger: Tesla's Supercharger network is the most established proprietary EV charging network globally. While not a third-party aggregator, Tesla's vertically integrated model is a strategic threat to NaaS as it sets the benchmark for OEM-controlled charging experiences.

Regional players

• State Grid Charging (国家电网电动汽车服务公司): State Grid's EV charging subsidiary is the largest state-owned EV charging operator in China, with extensive infrastructure across the country. It competes with NaaS in operating and aggregating public charging stations in the China market and has partnered with NaaS on certain regional deployments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks3 records

Key highlights7 records

Customer concentration

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Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NaaS Technology