SPI Energy, a provider of PV solutions for business, residential, government and utility customers and investors, today announced that its majority-owned subsidiary, Beijing Yiwei New Energy Technology Development Company (Yiwei), has expanded its business into Tangshan, a large city in China's northeastern province of Hebei. The Internet-based electric vehicle (EV) rental service provider has existing operations in Beijing, Shenzhen and Hainan.
"We are pleased to see the further expansion of Yiwei's business along with the exploding popularity of EV cars in China," said Xiaofeng Peng, Chairman and CEO of SPI Energy. "Car sharing technology and EVs are playing an important role in combatting pollution and congestion on China's roads. With Yiwei's high quality fleet of EVs and Solarbao.com's innovative e-commerce platform, SPI Energy is well positioned to benefit from the evolving transportation system in the world's largest car market."
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. Users can book the EVs through Yiwei's website or mobile app.