Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 18 February 2019, 16:41 HKT/SGT
Share:
    

Source: Mitsubishi Motors
Mitsubishi Motors: Alliance Ventures Invests in PowerShare to Advance Charging Solutions and Services for Electric Vehicles

TOKYO, Feb 18, 2019 - (JCN Newswire) - Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, today announced a new investment in PowerShare, an electric vehicle (EV) charging platform startup based in China. PowerShare provides an online platform that connects EV drivers, charge point operators and power suppliers to streamline the charging experience. It offers a cloud-based system, enabling suppliers to monitor the demand from vehicles with the supply capacity of the grid and drivers to find available charging stations.

PowerShare is the most recent addition to the Alliance Ventures portfolio in the field of early-stage development and entrepreneurs on the cutting edge of next-generation systems for the automotive industry.

Francois Dossa, alliance global vice president, Ventures and Open Innovation, said: "PowerShare's expertise fits with the Alliance's objective to maintain our leadership in vehicle electrification. 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."

Ethan Zhu, founder and chief executive officer of PowerShare added: "As a technology-based start-up with a focus on electric vehicle charging, PowerShare has accumulated rich experiences in this field through in-depth cooperation with domestic and foreign automobile manufacturers, charging operators and charging pile manufacturers over the past four years. This investment from Alliance Ventures will enable us to go farther and faster in expanding markets, developing core technologies, and exploring new business models in the global e-Mobility business. We look forward to working closely with Renault-Nissan-Mitsubishi as PowerShare grows."

The investment in PowerShare follows ten other Alliance Ventures investments, including start-ups based in North America, Europe and China, all with a focus on contributing to the future of mobility.

Financial terms of the PowerShare investment will not be disclosed.

About PowerShare

PowerShare, established in 2015, is an Internet of Things technology-based company providing services in the field of eMobility. Equipped with deep know-how in charging infrastructures in China and industry-comprehensive businesses, PowerShare provides simple access to charging stations via SaaS Platform service. Based on PowerShare's Charging Platform and Algorithm, the company brings more solutions and technologies into EV features for the eMobility. PowerShare's investors include Renault-Nissan-Mitsubishi, BP, and DETONG Capital.

www.powershare.com.cn/en/home/

About Alliance Ventures

Alliance Ventures is the strategic venture capital fund of Renault-Nissan-Mitsubishi, the world's largest automotive alliance. The fund, launched in 2018 and co-located in Amsterdam, Silicon-Valley, Paris, Yokohama, Beijing and Tel Aviv, plans to invest up to $1 billion in its first five years to support open innovation. Alliance Ventures targets technology and business model innovation in new mobility, autonomous driving, connected services, EV & energy and enterprise 2.0. By drawing on expertise and business opportunities from across the world's largest automotive alliance, the fund makes strategic investments at all start-up stages and incubates new automotive entrepreneurs at the cutting edge of next-generation systems for the automotive industry. Alliance Ventures is aligned with the objectives of Alliance 2022, the group's midterm plan which aims to strengthen cooperation and double the annualized synergies generated by Renault, Nissan and Mitsubishi Motors to more than ?10 billion.

www.alliance-2022.com/ventures/

About Renault-Nissan-Mitsubishi

Groupe Renault, Nissan Motor Company and Mitsubishi Motors represent the world's largest automotive alliance. It is the longest-lasting and most productive cross-cultural partnership in the auto industry. Together, the partners sold more than 10.7 million vehicles in nearly 200 countries in 2018. The member companies are focused on collaboration and maximizing synergies to boost competitiveness. They have strategic collaborations with other automotive groups, including Germany's Daimler and China's Dongfeng. This strategic alliance is the industry leader in zero-emission vehicles and is developing the latest advanced technologies, with plans to offer autonomous drive, connectivity features and mobility services on a wide range of affordable vehicles.

www.alliance-2022.com
www.media.renault.com
www.nissan-newsroom.com


About Mitsubishi Motors

Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid vehicles. The company launched the i-MiEV - the first mass-produced electric vehicle in 2009, which was followed by the OUTLANDER PHEV in 2013 - a plug-in hybrid market leader in Japan and Europe. Mitsubishi Motors has 30,000 employees and a global footprint with production facilities in Japan, Thailand, China, Indonesia, Philippines and Russia. Models, such as the PAJERO SPORT/MONTERO SPORT, TRITON/L200 and OUTLANDER play a major role in achieving its growth. The global sales volume in fiscal year 2017 was 1,101,000 units, and the net sales of Mitsubishi Motors for fiscal year 2017 was 2.19 trillion yen. Mitsubishi Motors is listed on the Tokyo Stock Exchange.

Contact:
Mitsubishi Motors
Public Relations Department
http://www.mitsubishi-motors.com
+81-3-6852-4275


Feb 18, 2019 16:41 HKT/SGT
Source: Mitsubishi Motors

Topic: Press release summary
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Motors Links

http://www.mitsubishi-motors.com/en/index.html

https://www.facebook.com/MitsubishiMotors.en

https://twitter.com/mitsucars?lang=en

https://www.youtube.com/user/MitsubishiMotorsAd

https://ph.linkedin.com/company/mitsubishi-motors

Mitsubishi Motors
May 9, 2019 18:34 HKT/SGT
Mitsubishi Motors Reports Full Year Financial Results for FY2018 and Issues FY2019 Guidance
Apr 11, 2019 16:27 HKT/SGT
Mitsubishi Outlander PHEV Hits 200,000 Global Sales Milestone
Apr 10, 2019 10:21 HKT/SGT
Mitsubishi Motors Lineup at Auto Shanghai 2019
Apr 10, 2019 10:06 HKT/SGT
Mitsubishi Motors Philippines Hits One Million-Unit Sales in 2019
Mar 29, 2019 14:32 HKT/SGT
Opening Ceremony Held at Camayse Elementary School in the Phillipines, Where Mitsubishi Motors Helped to Build a New Classroom Building
Mar 29, 2019 14:25 HKT/SGT
Mitsubishi Motors to Establish Innovation Center in Tokyo to Develop Embedded Software for Vehicle
Mar 28, 2019 18:41 HKT/SGT
Garuda Indonesia Enhances The Cooperation with Mitsubishi Motors
Mar 28, 2019 18:13 HKT/SGT
Mitsubishi Motors Launches New eK Wagon & eK X keicars
Mar 28, 2019 16:47 HKT/SGT
Mitsubishi Motors Announces Production, Sales and Export Figures for February 2019
Mar 26, 2019 16:28 HKT/SGT
Mitsubishi Motors Goes "ABSOLUTELY Beyond Tough" with Iconic Special Show Model TRITON ABSOLUTE
More news >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: