BP Ventures invests in Chinese EV charging platform PowerShare

Photographer: Brent Lewin/Bloomberg Photo by Bloomberg

BP said on Thursday it had invested in Chinese start-up PowerShare, which links electric vehicle drivers to charging points and helps power suppliers balance distribution.

The PowerShare application, which is used in cities such as Shanghai, will help manage growing pressure on power grids as electric vehicles (EVs) usage surges in the coming decades.

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