Astana Motors to invest $12 million in developing EV charging network in Kazakhstan

Astana Motors will invest $12 million in the construction of 250 EV charging stations in Astana, Almaty and Shymkent. The company expects to put them in service before 2028, Head of Distribution in Astana Motors Akylbek Anarbayev said at the Astana Finance Days conference.

The enterprise has already launched the My Charge project aimed at developing a network of charging stations throughout the country. They plan to open 42 stations by the end of this year. So far, there are four charging stations in Almaty: at the Mega Alma-Ata trading and entertainment center, Hyundai Premium on Al Farabi Avenue, Hyundai Suyunbay and in Qonaev City. All these charging facilities are equipped with fast-charging stations with a capacity ranging from 80 kilowatts (kW) to 480 kW and a maximum output of 240 kW per terminal. Chargers are suitable for both Chinese GBT and European CCS2 plug standards.

Chinese company TELD, which operates 523,000 EV charging terminals in China, is an Astana Motors’ partner in the project. However, the Kazakhstani company is inviting all other companies to join the venture. 

Akylbek Anarbayev also named the top 10 global manufacturers of electric vehicles and hybrid cars (including NEV category vehicles). The leader of the list is BYD, which sold 1.8 million vehicles in the first six months of the year, followed by with 947,400 vehicles sold, BMW (311,400), Li Auto (254,800), Wuling (247,900), Volkswagen (235,400), AITO (223,000), Mercedes (217,400), Geely (207,800) and Volvo (205,500).

In 2023, global sales of electric and hybrid vehicles reached 14 million units, out of a total market of 77.7 million, with NEV category cars making up 18%. In the first six months of 2024, sales already hit 7.8 million vehicles, with the NEV share rising to 20.3% out of a total market of 38.3 million. The leading markets by sales of NEV category vehicles are China (4.9 million units), the EU and the U.K. (1.5 million units), the U.S. and Canada (80,000 units).

In 2023, 7,900 electric vehicles were registered in Kazakhstan, marking an 885% increase. In the first six months of 2024, 9,900 vehicles were already registered, reflecting a 24% growth.

According to Anarbayev, lithium-ion-phosphate batteries account for 30% to 35% of the entire electric vehicle price. As he pointed out, battery manufacturers set a goal to cut the installation price and increase the drive range. Two types of batteries are currently in development: sodium-ion and solid-state batteries. Even though the first type is cheaper by 20% to 30%, it provides a smaller drive range, whereas the second type works vice versa; the drive range is 20%-25% higher as well as the installation price itself. 

The Astana Finance Days conference is held every year at the Astana International Financial Centre (AIFC) to connect the leading financial industry experts, investors and business leaders from Eurasia. The theme of this year’s conference is «Innovate. Invest. Impact.»