Renault-Nissan-Mitsubishi's Alliance Ventures has unveiled a new investment in PowerShare, an electric vehicle (EV) charging platform start-up based in China.
PowerShare provides an online platform connecting EV drivers, charge point operators and power suppliers to streamline the charging experience. It offers a cloud-based system, enabling suppliers to monitor demand from vehicles with supply capacity of the grid and drivers to find available charging stations.
PowerShare is the most recent addition to the Alliance Ventures portfolio in the field of early-stage development and entrepreneurs of next-generation systems for the automotive industry.
"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," said Alliance Global VP, Ventures and Open Innovation, François Dossa,
"Additionally, PowerShare's base in China aligns with our strong focus on the market as a strategic hub."
For his part, PowerShare founder and CEO, Ethan Zhu 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.
PowerShare, established in 2015, is an Internet of Things technology-based company providing services in the field of eMobility. Equipped with know-how in charging infrastructures in China and industry-comprehensive businesses, PowerShare provides access to charging stations via SaaS Platform service.
Based on PowerShare's Charging Platform and Algorithm, the company brings solutions and technologies into EV features for eMobility. PowerShare's investors include Renault-Nissan-Mitsubishi, BP, and Detong Capital.
Financial terms of the PowerShare investment have not been disclosed.
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