Electric cars get on the grid

Business | Tereza Cai 17 Jul 2019

China Evergrande (3333) and the State Grid Corporation of China are to set up a company that will build new-energy charging stations and sell chargers, as well as allow the sale of electricity generated by electric cars.

China Evergrande said vehicle-to-grid technology is available on all of its new-energy vehicles, and it has developed a smart charging platform that will help reduce costs.

V2G technology enables cars to start charging at night when demand and the corresponding price is low, and sell electricity back to the grid when demand and price is high. Car owners could therefore profit from the spread. Car owners will just need to plug in the charging gun, scan the QR code and input the charging amount. The system would then automatically charge the car when demand is low at a low price.

 

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