In recent years, electric vehicles (EVs) have been shaking the foundations of the automotive industry. The trends of substituting fossil fuel-powered vehicles are now irreversible. Apart from a climate-friendly image since its birth, EV is winning consumer's with futuristic looks, enhanced performance and most importantly improvement in cost-effectiveness.
Last year's car sales numbers reflect a world-wide EV purchasing spree. By the end of 2017, global EVs on the road hit around 3 million. As the largest automotive market in the world, China contributes over 1/3 of global market share.
An EV-friendly policy environment not only accelerated the growth of influential China's EV brands, but also fertilized the soil for Chinese EV charging companies with rocketing demand.
Hou Yifei, COO of XCharge emphasized the importance of developing advanced software for charging pillar operation and management. "We are in a new era brought by internet of things (IoT), and it is entirely different from electrification in the oil era."
Before XCharge made its debut, other competitors also showed interest in penetrating the EU market. Will those companies sustain the competitive edge for being earlier market entrants? Unfortunately, they encounter a powerful opponent in XCharge.
Completely different from competitors that were founded at an "Zero-EV" age, XCharge was born in a more mature and fast-growing EV market, which not surprisingly ranks as the largest EV market in the world.
Favorable policies boost China's EV industry and demand for charging infrastructure. Taking off with this, local charging companies have the opportunity in improving product performance and cost-effectiveness by processing massive orders and dealing with various business cases.
Over 70% of XCharge's employees are technical staff. Core team members come from famous hardware and software companies active in the EV charging field including Tesla, Schneider Electric, China Powertech and Kingdee, and energy giants like the State Grid Corporation of China (SGCC), Total and Enel.
XCharge's creative business model is winning the game.
"Our company offers integrated services of hardware and software solutions. Compatibility won't be an issue anymore," Hou Yifei said.
Being a solution provider rather than an operator, XCharge is willing to hand over the role of operations to its business clients including energy firms, real estate companies, OEMs and EV-charging operators, whereas other rivals prefer to lock the profits of operation and target retail customers.
With a better understanding of the energy industry, capability of manufacturing high-power DC superchargers with modular technology (90-480kW) and customized IoT solutions to business clients at a competitive price, it is not difficult to explain why XCharge stands out from the crowd in such a short time. So far, XCharge's products and IoT solutions have served many industrial leaders including the State Grid, Audi, SAIC Motor, XPeng Motors, JD.com and Didi Chuxing.
Striving for excellence, XCharge is making more creative ideas happen. According to Hou Yifei, the company's next gen product - robotic charging arms for self-driving cars are already at the lab stage.