Alliance Ventures, the venture capital arm of Renault-Nissan-Mitsubishi, has invested an undisclosed amount in PowerShare, an EV charging platform startup based in China.

PowerShare, which received investment from BP Ventures just weeks before this latest investment, offers an online platform that connects EV drivers, charge point operators, and power suppliers. The startup’s cloud-based system enables electricity suppliers to monitor and balance energy demand from EVs with the supply capacity of the grid.

Alliance Vice President François Dossa said, “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.”

Source: Groupe Renault