Nissan has entered into an agreement to invest in ChargeScape, a joint venture equally owned by BMW, Ford and Honda focused on electric vehicle-grid integration. Once the transaction is complete, Nissan will become an equal 25% investor in ChargeScape and will roll out ChargeScape's services to its EV drivers across the U.S. and Canada.

Last month, BMW, Ford and Honda announced the launch of ChargeScape, whose 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 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.

ChargeScape unlocks financial benefits for EV drivers by enabling services like managed charging and vehicle-to-grid export. When connected to ChargeScape's platform, EV drivers who choose to do so can receive financial incentives for temporarily pausing charging during periods of high demand and will eventually be able to sell the energy stored in their vehicle's battery back to the power grid. Doing so helps grid operators avoid dispatching expensive and often high-emission "peaker plants" when the grid is overloaded.

Nissan's incorporation into the ChargeScape alliance is of particular significance given its sales of over 650,000 LEAF models, one of the first EVs with the capability to export power back to the grid. Nissan is investing heavily in bidirectional charging (V2X) capabilities for its entire electric fleet, and ChargeScape is currently building virtual power plants composed of bidirectional EVs in California, Texas and other markets.

ChargeScape is a technology company that connects power utilities, automakers and electric vehicle drivers using software. From its offices in New York, ChargeScape helps stabilize electrical grids by optimizing the flow of electrons into and out of EV batteries and helps EV drivers save money on their charging through cash-back and other incentives. The company counts BMW, Ford, Honda and Nissan as investors, with additional automakers set to join in the coming months.

About Ford Motor Company:

Ford Motor Company is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services.

The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles along with embedded software that defines exceptional digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford provides financial services through Ford Motor Credit Company. Ford employs about 175,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

Source: prnewswire.com