- Huachen AI Parking Management (HCAI, Financial) enters a strategic partnership with Hangzhou Qianhui Electric Technology to support the expanding two-wheeled e-charging business in China.
- HCAI to provide financial backing while Hangzhou Qianhui handles operational management, including procurement, station construction, and platform optimization.
- Revenue-sharing model based on HCAI's financial investment and Hangzhou Qianhui's operational performance.
Huachen AI Parking Management Technology Holding Co., Ltd (NASDAQ: HCAI) has announced a non-binding cooperative agreement with Hangzhou Qianhui Electric Technology Co., Ltd to enhance the two-wheeled e-charging infrastructure in China. This cooperation aligns with Hangzhou Qianhui's three-year development strategy in the e-charging sector.
Under this agreement, Huachen AI (HCAI, Financial) will provide initial capital and phased investments contingent upon project progression. In return, Hangzhou Qianhui will manage operations, including the procurement, construction, and management of e-charging stations. The partnership aims to meet the increasing demand for electric two-wheeler charging solutions, advancing urban transport systems in China.
The revenue-sharing mechanism will be equity interest-based, determined by HCAI's financial inputs and Hangzhou Qianhui's performance outcomes. This strategic move allows HCAI to diversify its portfolio beyond smart parking solutions, tapping into the rapidly growing electric vehicle market.
The partnership is part of a broader initiative embracing urban mobility trends and supporting green transportation solutions. While the agreement is currently non-binding, it sets a framework for potential future developments, with value-added services such as advertising and user data analysis planned to enhance platform profitability.
