Alliance Ventures Invests in PowerShare to Advance Charging Solutions and Services for Electric Vehicles

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PARIS and TOKYO and YOKOHAMA, Japan , Feb. 18, 2019/PRNewswire=KYODO JBN/ --

     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.

    (Logo:

https://mma.prnewswire.com/media/556610/Renault_Nissan_Mitsubishi_Logo.jpg)

    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.

    Francois 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 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.

    Financial terms of the PowerShare investment will not be disclosed.

    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.

    Link:

https://www.alliance-2022.com/news/alliance-ventures-invests-in-powershare-to-advance-charging-solutions-and-services-for-electric-vehicles

    Source: Attribution: Renault-Nissan-Mitsubishi