SPI Energy Expanding EV Rental Business In Hainan, China

Beijing Yiwei New Energy Technology Development Company, a majority-owned subsidiary of the solar photovoltaic solutions company SPI Energy, has decided to expand its electric vehicle rental business into the southern province of Hainan, China, according to a new press release.

The subsidiary, which is often referred to simply as “Yiwei,” currently runs internet-based electric vehicle (EV) rental services in the cities of Beijing and Shenzhen. Owing to the fact that the Chinese New Year is currently upon us, the province of Hainan is expected to see significant tourism — which the company is intending to take advantage of for a strong start.

SPI Solar

The Chairman of SPI Energy, Xiaofeng Peng, stated: “Every year more Chinese people are choosing to drive cars to explore the country during the Chinese New Yearholiday. This year SPI Energy is pleased to offer EV rental solutions for environmentally conscious travelers visiting China’s popular coastal province of Hainan. With increasing government support and business investment, there are now EV charging facilities across China that are encouraging more people to rent and purchase EVs.”

The move by SPI Energy to acquire a stake in Yiwei is a rather recent one — with the company only just closing its investment of RMB30 million (for a 60% stake in the company) into Yiwei last month (January 2016). SPI Energy is planning to utilize its Solarbao.com platform as a means of helping Yiwei to expand its current fleet of EVs and EV chargers in the country’s growing market.

Those interested in using the service can simply use Yiwei’s smartphone app, or website, to book EVs at practically any time.

Image Credit: SPI Energy

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