Industry Overview - Guangzhou government has issued a plan for the large-scale application of Vehicle-to-Grid (V2G) technology from 2025 to 2027, aiming for over 1,000 V2G charging stations and vehicles by the end of 2025, with V2G discharge volumes reaching 1.5 million kWh in 2025, 2 million kWh in 2026, and 2.5 million kWh in 2027 [1][2] - V2G technology allows electric vehicles to act as energy storage devices, absorbing energy when grid load is low and releasing it when the load is high, thus generating profit from price differences [2] Company Insights - Teruid: The company is a leader in the charging station and operation sector, with a leading position in V2G technology deployment and the highest market share in V2G equipment nationwide [3] - Tonghe Technology: The company is a domestic leader in charging modules, with a wide range of V2G power levels covered [4] Market Projections - Longcheng Securities projects that the number of new energy vehicles in China will reach 40 million, 100 million, and 350 million by 2025, 2030, and 2050 respectively, with vehicle-mounted energy storage capacity expected to reach 2.6 billion, 6.5 billion, and 22.8 billion kWh [2] - The number of new V2G charging stations is projected to be 11.4 million, 80 million, and 250 million by 2025, 2030, and 2050 respectively [2] - The global V2G market value is expected to grow from $3.78 billion in 2023 to $45.09 billion by 2033 [2]

Core Insights - Guangzhou aims to establish itself as a national benchmark for V2G (Vehicle-to-Grid) applications by 2025, with a target of building 810 V2G charging stations and achieving a discharge capacity of at least 1.2 million kWh [1][2] Group 1: V2G Infrastructure Development - The work plan outlines the construction of 810 V2G charging stations by the end of 2025, with a discharge capacity of no less than 1.2 million kWh and at least 800 vehicles regularly participating in V2G [1] - A collaborative approach will be taken to develop a V2G benchmark demonstration area in Baiyun District, covering at least eight different scenarios including residential communities, industrial parks, and public transport stations [1] Group 2: Financial Incentives - The plan includes financial support for V2G charging infrastructure, providing up to 50% of the construction costs for various V2G charging facilities based on their rated discharge power [2] - A discharge subsidy of up to 5 yuan per kWh will be offered for V2G charging facilities, with an annual total subsidy cap of 20 million yuan [2]

Core Viewpoint - The Guangzhou government has issued a work plan for the pilot city of national vehicle-to-grid (V2G) interactive applications from 2025 to 2027, focusing on the implementation of supportive policies for V2G infrastructure development [1] Group 1: Supportive Policies - The plan includes construction subsidies for various V2G charging and swapping facilities, providing up to 50% of the V2G equipment cost [1] - Investment upgrades for city-level charging facility monitoring platforms with V2G capabilities will receive subsidies of up to 50% of the platform upgrade investment [1] - A discharge subsidy of up to 5 yuan per kilowatt-hour will be granted for various V2G charging and swapping facilities, with an annual total subsidy cap of 20 million yuan [1] Group 2: User Participation Incentives - The plan encourages participating vehicle manufacturers or related companies to advance the construction and discharge subsidies for individual V2G users involved in the pilot, enhancing user participation [1]