By Chris Wack

Ford Motor, BMW Group and American Honda Motor are creating ChargeScape, a new equally owned company that will create a single, cost-effective platform connecting electric utilities, automakers and interested electric vehicle customers.

Operating in the U.S. and Canada, ChargeScape is intended to allow electric-vehicle customers to earn financial benefits through a variety of managed charging and energy-sharing services not possible with traditional gasoline-powered vehicles.

The closing of the transaction and subsequent formation of ChargeScape is pending regulatory approvals, with the company expected to be operational early next year.

ChargeScape will use a single platform, which should eliminate the need for individual integrations between each automotive brand and each electric utility. ChargeScape's platform will give electric utilities access to EV battery energy across a wide pool of EVs.

Participating EV customers will have the potential to earn financial benefits by charging at "grid-friendly" times through flexible and managed schedules. Electric vehicle customers will also eventually have the opportunity to share the energy stored in their EV batteries with the grid during times of peak demand through vehicle-to-grid applications.

ChargeScape intends to provide managed charge scheduling through vehicle connectivity without requiring Wi-Fi-enabled charging stations. This will support the many EV customers who don't use "smart" chargers at home, as their EVs would otherwise be unreachable for grid services.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 12, 2023 10:55 ET (14:55 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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