SPI Energy Expands EV Rental Business in China


SPI Energy Co. Ltd., a global provider of photovoltaic solutions for business, residential, government, and utility customers and investors, says that its majority-owned subsidiary, Beijing Yiwei New Energy Technology Development Co., has expanded its Internet-based electric vehicle (EV) rental business into Tangshan, a large city in China’s northeastern province of Hebei.

According to SPI, the EV rental service provider has existing operations in Beijing, Shenzhen and Hainan. The company says that users can book the EVs through Yiwei’s website or mobile app.

Xiaofeng Peng, chairman and CEO of SPI Energy, says that this expansion is necessary due to the “exploding popularity” of EVs in China and its important role in combating pollution and congestion on the country’s roads.

SPI Energy closed its investment of RMB30 million for a 60% stake in Yiwei in January 2016 and is leveraging its Solarbao.com platform to help Yiwei expand its existing fleet of EVs and EV chargers in China.

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