The State Grid Corp of China (SGCC) will further step up innovation in order to construct a secure and self-reliant supply chain and industrial chain by 2025.

The biggest electricity company in the country, the SGCC just finished upgrading a multiple function electric car battery swap and charging station in east China’s Anhui Province prior to National Day on October 1.

The charging station, now operational, is the nation’s first to combine photovoltaic power generation, energy storage, data centre, 5G base station, and Beidou Navigation Satellite System base station all in one.

Mao Weiming, Chairman of the company said in a recent interview that the multi-function station is part of the company’s efforts to explore new business models and new areas with innovation.

“President Xi Jinping has emphasized that using technological innovation to generate new development momentum is a major subject regarding the overall development of our country and key to forming circulation within the domestic market.

Not long ago, we held a technological innovation conference within our organization to focus our aim on core technologies, overcome difficulties, and increase input in research and development. We plan to invest 80 billion yuan in total by 2025 to completely solve the problem of being constrained by others and ensure the safety and reliability of our power industry supply chain and industrial chain,” said Mao.

At the same time, the SGCC is also seeking to construct a modern power network that will meet the domestic market’s growing demand for electricity

“In the next three years, we will reduce installation costs for enterprises, especially medium, small and micro-enterprises. We will invest 100 billion yuan to expand capacity so that medium, small and micro enterprises can have more convenient access to electricity,” said the chairman.

The SGCC is also utilizing its platform to advance the development of the country’s power network. Mao said his company will actively incorporate new technologies to achieve that goal. He also said the SGCC will further tap into the global market going forward.

“We’ll focus on modern technologies such as big data, cloud computing, and the Internet of Things to form an energy network industry chain as soon as possible. At the same time, we will further deepen the development of Belt & Road Grid infrastructure, interconnection and integrate ourselves into the synergy of the development of the global industrial chain, taking our investment, operation, management, technology, standards, and equipment to the global market,” said Mao.