BP Ventures has invested in Powershare, a Chinese provider of integrated hardware and software for EV charging, during a Series A funding round.
PowerShare offers an online platform that connects drivers, charge point operators, and power suppliers. The company’s cloud-based system allows power suppliers to continuously monitor the power demand from vehicles and balance it with the supply capacity of the grid.
“China is the world’s largest EV market and a key market for BP as we seek to expand our advanced mobility offer,” said Lamar McKay, Deputy Chief Executive of BP. “Our investment into PowerShare, BP Ventures’ first direct investment in China, demonstrates our continued intent to provide charging solutions and advanced mobility offers to Chinese consumers both on and off our forecourts.”