financetom
Business
financetom
/
Business
/
Japan's Nissan to invest in auto tech firm ChargeScape
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Nissan to invest in auto tech firm ChargeScape
Oct 7, 2024 7:03 AM

Oct 7 (Reuters) - Japan's Nissan Motor ( NSANF ) said on

Monday it would invest an undisclosed amount in ChargeScape and

roll out the battery charging technology company's services to

its electric-vehicle drivers across the United States and

Canada.

After the transaction, Nissan ( NSANF ) will pick up a 25% stake in

ChargeScape, becoming an equal investor in the joint venture

that is currently equally owned by BMW, Ford and

Honda ( HMC ).

ChargeScape, which provides software and technology to

optimize EV battery charging, competes in a tight market that is

dominated by Tesla and has seen newer entrants such as

ChargePoint ( CHPT ), Gridserve and BP Pulse.

Demand for automotive software catering to electrified

vehicles has been on the rise as more companies realign their

model lineups with advanced driver aids and automated features.

ChargeScape expects more automakers to invest in it over the

next few months.

When plugged in to ChargeScape's platform, drivers can also

receive financial incentives for temporarily pausing charging

during periods of high demand and will eventually be able to

sell the energy stored in their vehicles back to the power grid.

Nissan's ( NSANF ) move underscores its wider strategy towards

investing in the bi-directional charging technology offered on

its Leaf EV.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oracle slides as it misses Wall Street revenue targets on tough cloud competition
Oracle slides as it misses Wall Street revenue targets on tough cloud competition
Dec 10, 2024
(Reuters) - Oracle's shares sank over 8% on Tuesday in premarket trading after its quarterly revenue fell short of expectations, hindered by fierce competition among database and cloud services providers. The cloud computing company is on track to lose about $45 billion in market capitalization at current share price levels of $174.14, as per LSEG data. Oracle's second-quarter revenue reached...
Amazon joins India's quick commerce race with trials for 15-minute grocery delivery
Amazon joins India's quick commerce race with trials for 15-minute grocery delivery
Dec 10, 2024
Dec 10 (Reuters) - Amazon ( AMZN ) will begin trials for quick commerce operations in India that would see the U.S. e-commerce giant deliver grocery items in 15 minutes or less, it said on Tuesday. Quick commerce is catching up in India, with companies like Zomato's Blinkit and SoftBank-backed Swiggy's Instamart promising deliveries of goods from groceries to electronics...
Oracle slides as it misses Wall Street revenue targets on tough cloud competition
Oracle slides as it misses Wall Street revenue targets on tough cloud competition
Dec 10, 2024
(Reuters) - Oracle's shares sank over 8% on Tuesday in premarket trading after its quarterly revenue fell short of expectations, hindered by fierce competition among database and cloud services providers. The cloud computing company is on track to lose about $45 billion in market capitalization at current share price levels of $174.14, as per LSEG data. Oracle's second-quarter revenue reached...
Novo Banco ready to explore IPO opportunities, aims to stay independent
Novo Banco ready to explore IPO opportunities, aims to stay independent
Dec 10, 2024
LISBON, Dec 10 (Reuters) - Portugal's fourth-largest bank, Novo Banco, is ready to explore opportunities of going public to diversify its shareholder base as it hopes to remain an independent entity, the executive board said in an email to employees late on Monday. Novo Banco was created in 2014 from the remains of collapsed lender BES after a multi-billion-euro government...
Copyright 2023-2026 - www.financetom.com All Rights Reserved