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January 24, 2019updated 25 Jan 2019 11:05am

BP invests in PowerShare

BP Ventures has invested in PowerShare, a leading integrated hardware and solutions provider for electric vehicle (EV) charging in China.

By Jack Unwin

BP Ventures has invested in PowerShare, a leading integrated hardware and solutions provider for electric vehicle (EV) charging in China. The Financial Times estimates that BP’s investment will be between $1-5 million.

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PowerShare provides an online platform that connects EV drivers, charge point operators and power suppliers to streamline the charging experience. PowerShare is a cloud-based system, which enables power suppliers to monitor the power demand from vehicles with the supply capacity of the grid.

BP deputy chief executive Lamar McKay said: “China is the world’s largest EV market and a key market for BP as we seek to expand our advanced mobility offer. 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.”

PowerShare CEO Ethan Zhu added: “As a technology-based start-up with focus on charging of electric vehicles, PowerShare has accumulated rich experiences in charging solutions and technologies through in-depth cooperation with domestic and foreign automobile manufacturers […] We are much honoured to partner with world leading companies like BP to jointly expand markets, develop core technologies, and explore new business models in the global eMobility business.”

BP has made other investments in this area including purchasing UK EV charging company Chargemaster, and investing in fast-charging battery technology firm StoreDot and mobile-charging company Freewire Technologies.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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