NaaS Technologies (NAAS.US) surged over 12% as its charging interconnection business is anticipated to experience significant growth in 2024.

On Friday, NaaS Technologies (NAAS.US) saw a significant increase in its stock price, up over 12% at the time of writing to $1.87. Earlier, NaaS Technologies announced a significant growth in its charging interconnection business, with approximately 6.4 million new registered users added in the whole year of 2024, further solidifying its leadership in the Chinese new energy vehicle charging market.

As of December 31, 2024, NaaS Technologies' strategic partner, Fast Electric, had nearly 19 million cumulative registered users, covering over 60% of Chinese new energy vehicle owners, according to the latest statistics from the Ministry of Public Security, with the total number of new energy vehicles in China reaching 31.4 million by the end of 2024.

NaaS Technologies' technology is accelerating the expansion of the charging interconnection ecosystem, not only deepening cooperation with automobile manufacturers (OEMs) and third-party online platforms on the demand side but also strengthening cooperation with charging station operators on the supply side. Through continuous expansion of the charging network coverage and continuous optimization of service efficiency, the company is committed to improving the convenience, smoothness, and reliability of new energy vehicle charging, providing a more seamless and efficient charging experience for the rapidly growing new energy vehicle user group.