# Pinggao Electric and Pinggao Group to form joint venture for charging and swapping business

Pinggao Electric's subsidiary Tianjin Pinggao Intelligent Electric will invest non-monetary assets worth 44.3 million yuan, and Pinggao Group will invest 45.7 million yuan in cash to establish a new company, Tianjin Pinggao Yidian Technology, to focus on the charging and swapping business.

- Type: Acquisition
- Announced: 2022-12-05
- Where: China
- Value: $12.5M (90.0M CNY)
- Status: announced
- Products: charging and swapping equipment
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Pinggao Electric](https://endata.com/companies/15879.md)
- [Tianjin Pinggao Intelligent Electric](https://endata.com/companies/15599.md) (partner)
- [Pinggao Group Company Limited](https://endata.com/companies/32851.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/842118.html), 2022-12-05: "为了抢抓充换电业务市场高速增长的机遇，拓宽市场营销渠道，形成规模优势，拟与平高集团共同出资成立平高易电。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.