Nissan’s Investment in ChargeScape

(Reuters) – Japan’s Nissan (OTC:NSANY) Motor announced on Monday its plan to invest an undisclosed amount in ChargeScape, implementing the battery charging technology company’s services for its electric vehicle drivers across the United States and Canada.

Following the transaction, Nissan will acquire a 25% stake in ChargeScape, aligning itself as an equal investor in the joint venture currently shared with BMW (ETR:BMWG), Ford (NYSE:F), and Honda (NYSE:HMC).

ChargeScape specializes in software and technology to optimize EV battery charging and operates in a competitive market dominated by Tesla (NASDAQ:TSLA), alongside newer entrants like ChargePoint (NYSE:CHPT), Gridserve, and BP (NYSE:BP) Pulse.

The demand for automotive software for electrified vehicles is increasing as companies adapt their model lineups with advanced driving aids and automated features. ChargeScape anticipates further investments from other automakers in the coming months.

When connected to ChargeScape’s platform, EV drivers can receive financial incentives for pausing charging during high-demand periods and will eventually have the ability to sell the energy stored in their cars back to the power grid.

Nissan’s initiative emphasizes its broader strategy to invest in bi-directional charging technology, particularly in its Leaf EV.