Alliance Ventures Invests in PowerShare to Advance Charging Solutions and Services for Electric Vehicles

Automotive Press Releases Monday February 18, 2019 15:37
PARIS and TOKYO and YOKOHAMA, Japan--18 Feb--PRNewswire/InfoQuest

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

(Logo: https://mma.prnewswire.com/media/556610/Renault_Nissan_Mitsubishi_Logo.jpg )
PowerShare is the most recent addition to the Alliance Ventures portfolio in the field of early-stage development and entrepreneurs on the cutting edge of next-generation systems for the automotive industry.

Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation, said: "PowerShare's expertise fits with the Alliance's objective to maintain our leadership in vehicle electrification. A solid infrastructure network must be established to accelerate the deployment of EV and new mobility services, and we expect PowerShare's technology to help make that happen. Additionally, PowerShare's base in China aligns with our strong focus on the market as a strategic hub."

Ethan Zhu, founder and Chief Executive Officer of PowerShare, added: "As a technology-based start-up with a focus on electric vehicle charging, PowerShare has accumulated rich experiences in this field through in-depth cooperation with domestic and foreign automobile manufacturers, charging operators and charging pile manufacturers over the past four years. This investment from Alliance Ventures will enable us to go farther and faster in expanding markets, developing core technologies, and exploring new business models in the global e-Mobility business. We look forward to working closely with Renault-Nissan-Mitsubishi as PowerShare grows."

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.
ABOUT ALLIANCE VENTURES

Alliance Ventures is the strategic venture capital fund of Renault-Nissan-Mitsubishi, the world's largest automotive alliance. The fund, launched in 2018 and co-located in Amsterdam, Silicon-Valley, Paris, Yokohama, Beijing and Tel Aviv, plans to invest up to $1 billion in its first five years to support open innovation. Alliance Ventures targets technology and business model innovation in new mobility, autonomous driving, connected services, EV & energy and enterprise 2.0.

Link: https://www.alliance-2022.com/news/alliance-ventures-invests-in-powershare-to-advance-charging-solutions-and-services-for-electric-vehicles/
Source: Renault-Nissan-Mitsubishi

Latest Press Release

BMW Motorrad Brunei Welcomes GS Adventure Borneo Rally 2019 Tourers

- BMW GS, icon amongst large-capacity travel enduros charts over 3,000km across Sarawak, Brunei and Sabah - 22 riders from Peninsula Malaysia, Germany, Belgium and Taiwan sets off from Kuching, Sarawak on Wednesday arrives in Bandar Seri Begawan - ADV...

Tire Technology International Awards MICHELIN named #Tire Manufacturer of the Year

A worldwide panel of 31 tire industry specialists made up of tire and vehicle manufacturers, industry research professionals and university experts has chosen Michelin as 'Tire Manufacturer of the Year'. Michelin was awarded this prestigious prize at the...

Renault-Nissan-Mitsubishi Senior Management Appointment

- Denis Le Vot, Senior Vice President and Chairman, Nissan North America Inc. is appointed Head of Renault-Nissan-Mitsubishi Light Commercial Vehicles (LCV) business - Appointment is effective April 1 The Renault-Nissan- Mitsubishi alliance today...

A.P. Honda Unveils New Honda CB150R THE STREETSTER With New Sporty Look and Got Jirayu as New Presenter

A.P. Honda, official distributor of Honda motorcycle in Thailand, is launching New Honda CB150R, the Neo Sport Cafe look that has been modified to meet the new "The Streetster" concept, and a new presenter, Jirayu "Got" Tantrakul. The rising star from...

Singapore ranks second in KPMG Autonomous Vehicles Readiness Index for a second time running

KPMG announced the findings of its 2019 Autonomous Vehicles Readiness Index (AVRI). Once again, The Netherlands topped the ranking, followed by Singapore, Norway, the United States and Sweden. "The results of the 2019 Autonomous Vehicles Readiness Index...

Related Topics