International energy major BP is investing in Chinese start-up PowerShare, whose technology directs electric vehicle drivers to charge points and helps utilities distribute power more effectively.
The support from BP’s venture capital arm amounts to between $1m-$5m and comes as global oil and gas majors have made a series of bets on electric vehicles as they seek a future in a world that transitions to lower-carbon fuels.
PowerShare’s technology helps drivers locate charge points and pay for the supply while monitoring local power distribution so utilities can avoid overloading any part of the system by diverting consumers to less busy points.
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