BMW Group, Ford Motor Company, and American Honda Motor announced that they have entered into an agreement to create ChargeScape.
This new equally owned company will create a single, cost-effective platform connecting electric utilities, automakers, and interested electric vehicle customers.
Benefiting both EV customers and the electric utility industry in the U.S. and Canada, ChargeScape will unlock entirely new value that EVs can provide to the electric grid, while enabling EV customers to earn financial benefits through a variety of managed charging and energy-sharing services never before 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.
Reaping Rewards From Charging
Leveraging extensive cross-industry collaboration within OVGIP, ChargeScape's unified platform is set to eliminate the need for individual integrations between each automotive brand and electric utility.
This platform will grant electric utilities access to the energy stored in a diverse pool of electric vehicles.
As a result, participating EV owners can potentially reap financial rewards by charging their vehicles during "grid-friendly" hours through adaptable and well-managed schedules.
Furthermore, electric vehicle users will eventually make a substantial impact by sharing their EV battery energy with the grid during peak demand periods through vehicle-to-grid (V2G) applications.
ChargeScape is poised to enable plugged-in EV batteries by securely providing energy data to electric utilities and system operators.
This data can be harnessed for aggregated demand response, aligning EV charging and battery use with off-peak, cost-effective time frames, and maximizing renewable energy sources.
Given the efficient integration with participating automakers and the expected high enrollment of EV customers, these energy services are anticipated to be cost-effective operational advantages for electric utilities.
Transformational Opportunity for EV Customers and Electric Utilities
This project's inception coincides with the rapid surge in electric vehicle sales and infrastructure expansion, presenting fresh opportunities to tackle challenges the electric grid faces.
The growing number of electric vehicles on the road translates into heightened demand for electricity for charging, placing additional stress on utility providers.
ChargeScape in response, is dedicated to offering energy management solutions that bolster grid resilience and also anticipates the future potential of vehicle-to-grid (V2G) capabilities, delivering advantages for electric vehicle owners and utilities.
ChargeScape’s initiatives will help diminish the carbon footprint of EV owners by harnessing electricity sourced from increasingly available renewable energy sources like wind and solar.
While achieving seamless integration between electric vehicle owners and utility services will be paramount for effective energy management, it is worth noting that participating EV owners will always retain control over their charging and energy-related decisions.
Benefits of Working Together
ChargeScape, along with the work done to date through OVGIP, will bring managed charging benefits to more EV customers and can eliminate marketing and outreach costs for utilities trying to reach their customer bases.
BMW Group, Ford Motor Company, and American Honda have direct, multi-channel communication with their EV customers, solving a central problem for utilities that typically do not know or have an easy and cost-effective way to identify the EV customers in their service territory.
By leveraging automaker telematics, 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 do not use “smart" chargers at home, as their EVs would otherwise be unreachable for grid services.
The three founding members welcome other automakers to join in and fully unlock opportunities provided by ChargeScape's grid service offerings once the company is fully operational.