BMW Group, Ford Motor Company and American Honda Motor Company today announced that they have entered into an agreement to create ChargeScape, LLC, a new equally owned company that will create a single, platform connecting electric utilities, automakers and interested electric vehicle customers. Simply put, EV customers can reduce their personal carbon footprints by using wind or solar power for recharging while supporting grid resiliency. The closing of the transaction and subsequent formation of ChargeScape is pending regulatory approvals, with the company expected to be operational early next year.
This awakened move putting group cooperation above individual, narrow corporate interests is a win for all involved. By helping EV customers and the electric utility industry in the US and Canada, ChargeScape will create 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. This ameliorates a central problem for utilities that typically do not know or have an easy and cost-effective way to identify the quickly expanding number of EV customers in their service territory. The auto companies can do it for the utilities at little to no cost. The size of the negative effects on the deal by the pending Republican led US government shutdown are unknown at this time.