Alliance Ventures to finance PowerShare for new EV charging solutions

The company aims to support the development of next-gen EV solutions & services for future mobility.

Renault-Nissan-Mitsubishi’s venture capital firm, Alliance Ventures has recently announced its new investment in China’s electric vehicle (EV) charging startup, PowerShare for developing next-gen charging systems.

For the record, PowerShare offers an online platform that links EV owners, charging station operators and power suppliers to help modernize their charging experience. The firm uses a cloud-based system that enables suppliers to monitor the upcoming EV charging needs with the grid supply capacity as well as helps drivers to find available charging stations nearby.

According to a press release, François Dossa, Global VP, Ventures and Open Innovation, Alliance, said that PowerShare’s knowhow fits perfectly with their firm’s vision of maintaining its leadership in vehicle electrification. He said that the company intends to use Powershare’s technology to set up a solid charging infrastructure network which is crucial for accelerating the deployment of EV and new mobility services.

Commenting on the investment, Ethan Zhu, Founder & CEO, PowerShare, said that the firm, as a technology-based start-up with a focus on EV charging, has accumulated strong experiences in this field through in-depth cooperation with foreign and domestic automakers and charging operators over the past few years.

Zhu claims that Alliance Ventures’ investment will allow PowerShare to go farther and faster in the rapidly expanding markets, developing core technologies, and seeking new business models in the global e-Mobility business. He added that the company is looking forward to working closely with Renault-Nissan-Mitsubishi in the future.

Reportedly, PowerShare is the latest addition to the Alliance Ventures portfolio in the field of early-stage development of next-generation systems for the automotive industry. The company, in addition to PowerShare, has prior invested in ten other start-ups based in Europe, North America, and China with a focus on contributing to the future of mobility.