Ford, BMW, Honda to Create ChargeScape EV Grid Services Company
13 September 2023 - 1:10AM
Dow Jones News
By Chris Wack
Ford Motor, BMW Group and American Honda Motor are creating
ChargeScape, a new equally owned company that will create a single,
cost-effective platform connecting electric utilities, automakers
and interested electric vehicle customers.
Operating in the U.S. and Canada, ChargeScape is intended to
allow electric-vehicle customers to earn financial benefits through
a variety of managed charging and energy-sharing services not
possible with traditional gasoline-powered vehicles.
The closing of the transaction and subsequent formation of
ChargeScape is pending regulatory approvals, with the company
expected to be operational early next year.
ChargeScape will use a single platform, which should eliminate
the need for individual integrations between each automotive brand
and each electric utility. ChargeScape's platform will give
electric utilities access to EV battery energy across a wide pool
of EVs.
Participating EV customers will have the potential to earn
financial benefits by charging at "grid-friendly" times through
flexible and managed schedules. Electric vehicle customers will
also eventually have the opportunity to share the energy stored in
their EV batteries with the grid during times of peak demand
through vehicle-to-grid applications.
ChargeScape intends to provide managed charge scheduling through
vehicle connectivity without requiring Wi-Fi-enabled charging
stations. This will support the many EV customers who don't use
"smart" chargers at home, as their EVs would otherwise be
unreachable for grid services.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 12, 2023 10:55 ET (14:55 GMT)
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