One month after OEMs BMW, Ford, and Honda announced a new joint venture focused on electric vehicle-to-grid integration called ChargeScape, Nissan has now joined. The Japanese automaker will take a stake in the joint venture and begin offering its charging solutions to customers.
ChargeScape is a new joint venture initially formed, owned, and operated by Ford, BMW, and Honda. The venture is focused on a software platform dedicated to home EV charging solutions, specifically vehicle-to-grid capabilities. Per the company:
ChargeScape’s software wirelessly connects to electric vehicles and manages the flow of electrons in line with real-time grid conditions, temporarily reducing demand when the grid is constrained through smart charging (V1G) and even leveraging sending energy back into the power grid when needed (V2G). By providing a single platform for power utilities, automakers and their customers, ChargeScape streamlines the complexity of electric vehicle-grid integration.
Now, less than a month after the initial announcement that ChargeScape had been founded and named its first CEO, Nissan has joined the joint venture as a fourth partner.
Nissan takes a 25% stake in ChargeScape joint venture
The Japanese automaker shared details of its new investment in ChargeScape today, which, when completed, will make it a 25% even partner in the charging joint venture alongside BMW, Ford, and Honda.
Once the transaction is completed, Nissan will begin rolling out ChargeScape’s services to its EV drivers across the US and Canada. Soon, Nissan will be able to offer its EV drivers the potential for energy savings using ChargeScape’s backend software.
For example, EV owners will be able to temporarily pause charging sessions during periods of high demand and pending regulatory approvals, eventually be able to sell their vehicle’s stored energy back to their local power grid for incentives. Kent O’Hara, president of Nissan’s 4R battery business, elaborated:
ChargeScape helps us more conveniently and effectively connect utilities to EV drivers, making the ownership experience more valuable for drivers by giving them incentives for participating in managed charging and vehicle-to-grid programs. Joining ChargeScape helps us contribute to a nationwide reduction in CO2 emissions by enabling utilities to use EV battery energy storage to balance peak grid demands, while optimizing the use of renewable electricity sources.”
Nissan shared that ChargeScape’s potential to unlock vehicle-to-grid services for many will also help grid operators avoid the reliance on expensive and polluting “peaker plants” when the grid becomes overloaded.
The young joint venture is already developing and erecting “virtual power plants” in California, Texas, and other markets. Per the press release, the four initial joint venture partners expect additional automakers beyond Nissan to join “in the coming months.”