Nissan Motor announced on Monday that it will acquire ChargeScape for an unknown sum and offer its electric vehicle owners in the US and Canada access to the battery charging technology company’s services.
TakeAway Points:
- Nissan Motor announced on Monday that it will invest an unknown sum in ChargeScape and make the battery charging technology company’s services available to its electric vehicle owners in the US and Canada.
- ChargeScape, provides software and technology to optimize EV battery charging.
- Demand for automotive software catering to electrified vehicles has been on the rise as more companies realign their model lineups with advanced driver aids and automated features.
- Britain is setting up a new Regulatory Innovation Office (RIO) to speed up the approval of new technologies such as artificial intelligence for use in the healthcare, space, and drone sectors.
Nissan’s auto tech investment
After the transaction, Nissan will pick up a 25% stake in ChargeScape, becoming an equal investor in the joint venture that is currently equally owned by BMW, Ford, and Honda.
ChargeScape, which provides software and technology to optimize EV battery charging, competes in a tight market that is dominated by Tesla and has seen newer entrants such as ChargePoint, Gridserve, and BP Pulse.
Demand for automotive software catering to electrified vehicles has been on the rise as more companies realign their model lineups with advanced driver aids and automated features.
ChargeScape expects more automakers to invest in it over the next few months.
When plugged in to ChargeScape’s platform, drivers can also receive financial incentives for temporarily pausing charging during periods of high demand and will eventually be able to sell the energy stored in their vehicles back to the power grid.
Nissan’s move underscores its wider strategy towards investing in the bi-directional charging technology offered on its Leaf EV.
Britain establishes regulatory innovation office
In an attempt to spur growth, Britain is establishing a new Regulatory Innovation Office (RIO) to expedite the approval of emerging technologies like artificial intelligence for application in the space, healthcare, and drone sectors.
Britain’s new Labour government, elected in July, has promised to increase investment in infrastructure, the transition to a net-zero economy, and other areas to lift Britain’s economic growth.
The government said on Tuesday that the new RIO would make it easier for companies to introduce cutting-edge technologies, and it would help set the scene for an international investment summit on Oct. 14.
Prime Minister Keir Starmer and finance minister Rachel Reeves will host sovereign wealth funds, businesses, and infrastructure funds at that event with the aim of showing the country is “open for business”.
British science and technology minister Peter Kyle said the RIO was aimed at ensuring doctors can diagnose illnesses earlier, allow bio-engineers to create cleaner fuels and more pest-resistant crops, and ensure drones can be used for delivery in the future.
“We’re curbing the burden of red tape so businesses and our public services can innovate and grow, which means more jobs, a stronger economy,” he said in a statement.
The RIO, which will work with existing regulators, will soon invite applications for a chair to lead it, the statement added.
