China’s Largest EV Charging Network Targets Breakeven

The company that controls 41% of China’s charging stations for electric cars predicts it will break even in 2018 after two years of losses, Bloomberg News reports.

Qingdao TGOOD Electric Co. current operates roughly 300,000 chargers in China, where the number of plugin and all-electric cars is about 1.8 million units, according to the Ministry of Public Security and an alliance of charging infrastructure developers. The company says it already is profitable in large markets such as Beijing, Guangzhou and Shanghai.

China hopes to have 4.8 million charging points and 5 million new-energy vehicles in operation by 2021. Bloomberg notes that the number of charging units has jumped 80% to more than 700,000 this year.