According to the enterprise survey app, Wuwei Volcano Engine Technology Co., Ltd. was recently established. The company is indirectly wholly owned by Douyin Co., Ltd., and its business scope covers the operation of electric vehicle charging infrastructure, motor vehicle charging sales, etc. This move sparked market speculation about Douyin's layout of the charging pile business. In response, Douyin said that according to industrial and commercial requirements, the park will deploy and install charging piles, and the business scope needs to include charging sales and charging facilities. The company has no charging pile-related business.

According to the enterprise survey app, Wuwei Volcano Engine Technology Co., Ltd. was recently established. The company is indirectly wholly owned by Douyin Co., Ltd., and its business scope covers the operation of electric vehicle charging infrastructure, motor vehicle charging sales, etc. This move sparked market speculation about Douyin's layout of the charging pile business. In response, Douyin said that according to industrial and commercial requirements, the park will deploy and install charging piles, and the business scope needs to include charging sales and charging facilities. The company has no charging pile-related business.