(Yicai Global) Nov. 19 --  China Grand Automotive Services Group, the nation's largest car  dealership, will join hands with a unit of the State Grid to foray into  the field of new energy vehicle charging services.

The 50:50 joint venture  between China Grand Auto and State Grid EV Service will have registered  capital of CNY180 million (USD25.6 million) and it will install and  operate charging piles, the Shanghai-based dealership said in a  statement. The JV may also rent out vehicles. 

China Grand Auto's [SHA:600297] share price rose by 0.9 percent to CNY3.4 (US 48 cents) in the afternoon. 

Editor: Emmi Laine