Price War Intensifies in EV Charging Sector as Top Players Pivot to Rural Areas and Heavy-Duty Trucks

Charging pile supply has outstripped demand, driving down charging service fees from RMB 0.4 per kWh to as low as RMB 0.1, with some regions even witnessing chaotic price-cutting tactics like "5 fen per kWh" promotions to lure customers. This price war is now spreading from first- and second-tier cities to third- and fourth-tier cities. Compounded by rising costs—including construction, rent, intermediary fees—as well as volatile electricity prices and low equipment utilization rates, the payback period for charging stations has generally extended to 7–10 years. Against this backdrop, major operators are adjusting their strategies, shifting focus toward rural "ant-sized" stations and heavy-duty truck charging markets. Leading companies like Teld are also ramping up investments in virtual power plants to seek new growth opportunities.