Green movement good news for recharging equipment firms

The government's support for using clean-energy vehicles is believed to be good news for producers of electric-car recharging equipment, analysts say.

According to a report released by Shenyin & Wanguo Securities, the market value of electric-car recharging facility equipment is estimated to be 1.4 billion yuan annually.

Shenzhen, the first city to promote electric vehicles, plans to invest 339 million yuan over the next five years to purchase recharging equipment for 250 recharging stations and 12,500 parking-lot-based recharging towers.