Alliance Ventures, a division of the Renault-Nissan-Mitsubishi Alliance, announced the investment in PowerShare platform for charging electric vehicles in China, which recently attracted investment from BP.
PowerShare is an analogue of ChargePoint in North America. The online platform brings together drivers of electric vehicles, operators of charging points and energy suppliers. Because of its strong position in China and the ambitions of the Alliance, the investment in partner in charge for the Chinese market was a wise decision. Financial terms of the deal were not disclosed.
As stated by Francois Dossa, Vice President, Global Alliance and Open Innovation Ventures, Alliance Ventures, the strategic venture capital division of Renault-Nissan-Mitsubishi today announced new investments in PowerShare, the launch of the platform for charging electric vehicles in China. PowerShare is an online platform that brings together drivers of electric vehicles, operators of charging points and energy suppliers to optimize the charging process. The platform offers a cloud-based system allows providers to track demand for electric vehicles, the clients, the network bandwidth and available charging station.
According to Doss, experience PowerShare to the goals of the Alliance to become the leader in electrification of vehicles. Reliable charging infrastructure should be created to accelerate the development of electromobility and new mobility services and the company expects that the Powershare will do it.
As noted by Ethan Zhu, founder and chief Executive officer of PowerShare, as PowerShare technology startup, focused on charging electric vehicles, has accumulated rich experience in this field thanks to the cooperation with domestic and foreign car manufacturers, operators of charging and manufacturers of chargers over the past four years. Investment Alliance Ventures will allow the company to move further and faster in the expanding markets, the development of basic technologies and exploring new business models in the global business of electric vehicles.