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Alliance Ventures takes stake in PowerShare charging platform in China

Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, announced a new investment in PowerShare, an electric vehicle (EV) charging platform startup based in China. BP announced an investment in PowerShare in January. (Earlier post.)

PowerShare provides an online platform that connects EV drivers, charge point operators and power suppliers to streamline the charging experience. It offers a cloud-based system, enabling suppliers to monitor the demand from vehicles with the supply capacity of the grid and drivers to find available charging stations.

The investment in PowerShare follows ten other Alliance Ventures investments, including start-ups based in North America, Europe and China, all with a focus on contributing to the future of mobility.

Financial terms of the PowerShare investment will not be disclosed.

PowerShare’s investors now include Renault-Nissan-Mitsubishi, BP, and DETONG Capital.

Comments

HarveyD

Wise move by BP, RNM and Detong Capital. Supplying e-energy for future EV fleets will soon become a competitive but profitable business?

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