South Korean carmakers Hyundai Motor Company and Kia Corporation have invested in WeaveGrid, an American electric vehicle (EV) software company.
The start-up allows automakers to integrate EVs with the electric power grid for vehicle-to-grid charging and distribution-integrated smart charging orchestration (DISCO), built with artificial intelligence (AI) technology.
Amongst Hyundai and Kia, Toyota is the third automaker to have invested in the start-up.
Keith Noh, Vice President at Hyundai Motor Company and Head of the ZER01NE Group, said:
“Our software-defined EVs require a sophisticated platform that can securely manage vehicle data, optimize charging patterns, and strengthen the grid. WeaveGrid’s technology allows us to turn our vehicles into dynamic energy resources that can communicate intelligently with the electric grid, creating value for drivers, utilities, and the broader energy ecosystem.”
The start-up also handles grid load management and renewable energy integration.
Apoorv Bhargava, CEO of WeaveGrid, highlighted the industry-wide significance of these strategic investments:
“With Hyundai Motor and Kia joining Toyota as investors in our platform, we’re seeing a clear industry convergence. These investments validate our approach to creating a cybersecure, seamless solution that enables automakers to transform their EVs into grid-interactive vehicles. With our solutions already deployed with some of the largest utilities in the country, we’re establishing the foundation for how hundreds of millions of EVs and the grid will work together.”
Keep up-to-date with the latest mobility news by subscribing to MOVEMNT’s free newsletter
Also in the news:
The charging point operator market: A roadmap to success in the evolving electric vehicle landscape
Mitsubishi to invest €200m in Renault’s new EV company Ampere
Quantron delivers hydrogen trucks to the first IKEA market
Electrogenic unveil ‘drop-in’ EV conversion kit for classic 1960s Jaguar E-Type