Ford, Honda, and BMW joint venture ChargeScape names CEO, CTO

The joint venture between Ford (NYSE:F), Honda (NYSE:HMC), and BMW (OTCPK:BMWYY) to integrate electric vehicles into the power grid and lower charging costs for drivers has begun operations Wednesday with the appointment of a new chief executive and chief technology officer.

ChargeScape is a software platform that wirelessly connects EVs and works with participating utilities to manage the flow of electrons in line with real-time grid conditions. The platform is expected to temporarily reduce demand when the power grid is under pressure and can send power back into the grid when needed, building off the early success of the automakers’ work on smart charging through the Open Vehicle-Grid Integration Platform. EV customers will have the potential to earn financial benefits by charging at “grid friendly” times and by sharing stored energy during peak grid demand.

Upon launch of ChargeScape, the three automakers announced the appointment of CEO Joseph Vellone and CTO Kalidindi Raju.

“ChargeScape aims to accelerate the expansion of smart charging and vehicle-to-everything solutions all over the country, while increasing customer benefits, supporting the stability of the grid and helping to maximize renewable energy usage,” BMW America’s vice president of engineering said in a statement.

While Ford (F) and BWM (OTCPK:BMWYY) hold a notable position in the global plug-in market (including fuel cells), their combined production of plug-in vehicles represents just 5.9% of the total production of the top 20 global EV manufacturers.