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

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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.