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Ford, Honda, and BMW create a new vehicle-to-grid company to help EV owners save money

EV charging station
Image: Getty Images

Ford, BMW, and Honda are joining forces to create a new vehicle-to-grid company that aims to help EV owners save money by sending energy back to the electrical grid.

The new company, ChargeScape, will “create a single, cost-effective platform connecting electric utilities, automakers and interested electric vehicle customers.” Through that platform, EV owners “earn financial benefits through a variety of managed charging and energy-sharing services never before possible with traditional gasoline-powered vehicles.”

The three automakers will each own an equal share of the new company, which is expected to ramp up operations starting next year, pending regulatory approval.

EVs are unique in their ability to send energy back to the grid,…

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