Company to step up funding in charging stations

LeTV Holdings Co Ltd is pouring money into a charging station solution provider, in a new push to pave the way for its budding electric-vehicle business.

The company said on Wednesday that it has invested into Beijing Dianzhuang Technology Co Ltd, a startup that builds and rents charging posts for electric cars. LeTV did not disclose specific amount of the investment.

"The investment is a key step for LeTV to expand its presence in the new-energy automobile industry. We will work with more partners, such as equipment suppliers, in the future," said Sun Ke, senior investment director of LeTV.