Alliance Ventures invests in PowerShare to advance charging solutions and services for electric vehicles
Bangkok, Thailand (21 February 2019) Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, today announced a new investment in PowerShare, an electric vehicle (EV) charging platform startup based in China. PowerShare provides an online platform that connects EV drivers, charge point operators and power suppliers to streamline the charging experience. It offers a cloud-based system, enabling suppliers to monitor the demand from vehicles with the 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 on the cutting edge of next-generation systems for the automotive industry.
François Dossa, Alliance Global Vice President, Ventures and Open Innovation, said: “PowerShare’s expertise fits with the Alliance’s objective to maintain our leadership in vehicle electrification. 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. Additionally, PowerShare’s base in China aligns with our strong focus on the market as a strategic hub.”
Ethan Zhu, founder and Chief Executive Officer of PowerShare added: “As a technology-based start-up with a focus on electric vehicle charging, PowerShare has accumulated rich experiences in this field through indepth 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. Financial terms of the PowerShare investment will not be disclosed.
ABOUT POWERSHARE
PowerShare, established in 2015, is an Internet of Things technology-based company providing services in the field of eMobility. Equipped with deep know-how in charging infrastructures in China and industry-comprehensive businesses, PowerShare provides simple access to charging stations via SaaS Platform service. Based on PowerShare’s Charging Platform and Algorithm, the company brings more solutions and technologies into EV features for the eMobility. PowerShare’s investors include Renault-Nissan-Mitsubishi, BP, and DETONG Capital. www.powershare.com.cn/en/home/
ABOUT ALLIANCE VENTURES
Alliance Ventures is the strategic venture capital fund of Renault-Nissan-Mitsubishi, the world’s largest automotive alliance. The fund, launched in 2018 and co-located in Amsterdam, Silicon-Valley, Paris, Yokohama, Beijing and Tel Aviv, plans to invest up to $1 billion in its first five years to support open innovation. Alliance Ventures targets technology and business model innovation in new mobility, autonomous driving, connected services, EV & energy and enterprise 2.0. By drawing on expertise and business opportunities from across the world’s largest automotive alliance, the fund makes strategic investments at all start-up stages and incubates new automotive entrepreneurs at the cutting edge of next-generation systems for the automotive industry. Alliance Ventures is aligned with the objectives of “Alliance 2022”, the Renault-Nissan-Mitsubishi’s midterm plan which aims to strengthen cooperation and double the annualized synergies generated by Renault, Nissan and Mitsubishi Motors to more than €10 billion. www.alliance-2022.com/ventures/
ABOUT RENAULT-NISSAN-MITSUBISHI
Groupe Renault, Nissan Motor Company and Mitsubishi Motors represent the world’s largest automotive alliance. It is the longest-lasting and most productive cross-cultural partnership in the auto industry. Together, the partners sold more than 10.7 million vehicles in nearly 200 countries in 2018. The member companies are focused on collaboration and maximizing synergies to boost competitiveness. They have strategic collaborations with other automotive groups, including Germany’s Daimler and China’s Dongfeng. This strategic alliance is the industry leader in zero-emission vehicles and is developing the latest advanced technologies, with plans to offer autonomous drive, connectivity features and mobility services on a wide range of affordable vehicles. www.alliance-2022.com
www.mitsubishi-motors.com/en/newsrelease/
About Nissan Motor (Thailand) Co., Ltd.
Nissan was established in Japan since 1933 with the commitment to create Innovation that Excites for customer satisfaction. Nissan wants to improve quality of life for people in society by pursuing a goal of zero emission vehicles and zero fatalities on the road with “Nissan Intelligent Mobility”. The company plans to introduce autonomous drive vehicles across regions for safety and more enjoyable driving experience. Nissan started business in Thailand since 1952. Currently, the Nissan Group of Companies in Thailand has subsidiaries five companies, including two of the production bases, over than 190 showrooms and service centers nationwide network. Vehicle range cover all segments includes 10 models spanning the entry level Eco-Car, SUV, Premium Sedans and Pickup Trucks.
About Nissan Motor Co., Ltd.
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, INFINITI and Datsun brands. In fiscal year 2017, the company sold 5.77 million vehicles globally, generating revenue of 11.9 trillion yen. On April 1, 2017, the company embarked on Nissan M.O.V.E. to 2022, a six-year plan targeting a 30% increase in annualized revenues to 16.5 trillion yen by the end of fiscal 2022, along with cumulative free cash flow of 2.5 trillion yen. As part of Nissan M.O.V.E. to 2022, the company plans to extend its leadership in electric vehicles, symbolized by the world's best-selling all-electric vehicle in history, the Nissan LEAF. Nissan’s global headquarters in Yokohama, Japan, manages operations in six regions: Asia & Oceania; Africa, the Middle East & India; China; Europe; Latin America; and North America. Nissan has partnered with French manufacturer Renault since 1999 and acquired a 34% stake in Mitsubishi Motors in 2016. The Renault-Nissan-Mitsubishi alliance sold 10.76 million vehicles combined in calendar year 2018.
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