China EV charging operator secures $190m Series A

The round was co-led by China Structural Reform Fund - an investment vehicle under the country's State-owned Asset Supervision & Administration Commission (SASAC), state-controlled Guoxin Capital, and CDH Investments.

Telaidian - also known as TELD - is a sub-brand of Tgood Electric, a Shenzhen-listed provider of smart home solutions and EV charging infrastructure. It claims to have 50,000 charging stations across 183 cities in China. Including the global business, the network comprises 180,000 terminals in more than 280 cities.

The new funding will go towards R&D for charging and energy management technology, expansion of the company's charging network, and improvement in operational efficiency.

Over the past four years, TELD has seen compound annual growth of 160% in terms of the number of charges provided, while registered users have increased by 100%, according to a statement.

The China Electric Vehicle Charging Infrastructure Promotion Association said earlier this year that there were 496,000 public charging stations in the country as of December 2019. The number of public and private stations combined totaled 1.17 million as of November 2019. This represents the world's largest charging infrastructure network.

Acumen Research Consulting projects that the global electric vehicle charging station market will grow at an annualized rate of 40% between 2019 and 2026, with revenue reaching $3.4 billion.

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• Topics
• Greater China
• Early-stage
• Technology
• China
• automobiles
• CDH Investments Management