Investment in battery recharging facilities for electric cars across China this year and in 2015 is set to exceed 60 billion yuan (US$9.665 billion), with procurement of the facilities forecast at 12 billion yuan, the Shanghai Securities News reported Thursday. Unlike before, the recharging facilities will not only be handled by the State Grid Corporation of China and China Southern Power Grid Co. Ltd. (CSG), as private capital will also be welcomed. As of the end of 2012, there were 353 recharging stations with 14,703 recharging bays in the 25 cities selected for demonstration. According to industry estimates, the number of recharging bays could reach 100,000 units by the end of this year, up from 19,000 units as of the end of 2013, the report said.
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