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Japan's Nissan to invest in auto tech firm ChargeScape
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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.

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