The four-year plan for the Renault-Nissan-Mitsubishi Alliance is well underway with Alliance 2022 and the current funding campaign, Alliance Ventures. Earlier in 2018, the alliance made five investments in several companies and startups that shared similar interests with their Alliance 2022 plan. Recently, the alliance has used Alliance Ventures to invest in a sixth company that’s going to change the way consumers view electric vehicles.
One of the largest reasons consumers shy away from alternative fuel vehicles like plug-in electric hybrids (PHEVs) and especially electric vehicles (EVs), is the fear that they will be stranded if the battery powering the motor runs out of juice. Luckily, unless irresponsible, consumers can find an electric charging station nearly anywhere with the PlugShare app, and electric vehicle charging stations in Miami, Florida are becoming increasingly popular. But that’s sometimes the second reason consumers are wary – needing to plug in somewhere for two hours or more is a bit of a buzz kill.
That’s where Enevate is providing a solution. With their advanced lithium-ion (Li-ion) battery technology, this startup company based in Irvine, California is going to change the way people recharge PHEVs and EVs. By using what they call HD-Energy Technology, Enevate has achieved a far superior version of fast charging via high energy density.
The HD-Energy Technology has already been able to offer the following benefits:
– A 75-percent increase in charging rates, down to five minutes
– High energy density charging for EVs that have a long driving range
– Able to be utilized in warm and cold climates, as low as -40 degrees F
– The cost is lower than EV charging today
– It’s safer
“We share the common goal of making electric vehicles easier to use and adopt in mass markets. We look forward to our strategic partnership with Renault-Nissan-Mitsubishi, as they are a global leader in electric vehicles and they understand the market needs of EV consumers worldwide.” – Enevate President and CEO Robert A. Rango
With all these benefits, and the funding from Renault-Nissan-Mitsubishi, Enevate is almost ready to start producing their technology in high volumes. The Renault-Nissan-Mitsubishi Alliance isn’t the only company to invest in Enevate, either. LG Chem, another high-profile investor, showed interest in the technology in October 2018. Now, automotive manufacturers and suppliers worldwide just need to adopt the next-generation features that PHEVs and EVs can offer, and Enevate can take alternative fuel vehicles to the next level.
Last Five Investments
Alliance Ventures has made five investments in 2018 to benefit Alliance 2022 and future concepts for the alliance auto brands. In the U.S., the Renault-Nissan-Mitsubishi Alliance invested in Ionic Materials, a firm currently developing solid-state cobalt-free battery materials for hybrids and plug-in hybrids to provide automakers cheaper ways to make high quality alternative fuel vehicles. One of the first investments though were in many robotaxi startups – artificial intelligence and autonomous vehicles are the main focus of Alliance Ventures.
The funding campaign was also used to invest in the DiDi Auto Alliance intelligent-ride sharing and autonomous technology conglomerate in China, in exchange for access to auto leasing and sales, auto finance, auto service, fleet operation, and car-sharing solutions. Another company based in China, Sinovation Ventures, is focused on developing artificial intelligence and has been backed by Jaguar, Land Rover, and Valeo. With Alliance 2022 dealing with autonomous and artificial intelligence as the main two focuses of future car concepts, it makes sense for the Renault-Nissan-Mitsubishi Alliance to also make these investments.
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