Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Nissan Leaf approved for vehicle-to-grid use in Germany

Published 10/23/2018, 07:03 AM
Updated 10/23/2018, 07:03 AM
© Reuters. A 2019 Nissan Leaf hybrid car is displayed at the North American International Auto Show in Detroit

HAGEN, Germany (Reuters) - Nissan's Leaf became the first electric vehicle (EV) to secure regulatory approval as an energy backstop for Germany's electricity grid, the Japanese carmaker said on Tuesday.

So called vehicle-to-grid (V2G) technology is a connection between the EV and the grid through which power can flow from the grid to the vehicle and vice-versa, potentially enabling car owners to sell energy to the network. This would allow utilities to use electric cars as a backstop if demand rises.

There will be 280 million electric vehicles by 2040, according to estimates by the International Energy Agency, compared with more than 3 million last year.

"We strongly believe in an emission-free future," Guillaume Pelletreau, Vice President and Managing Director, Nissan Center Europe, said. "Leaf batteries could make an important contribution to energy transition in Germany and a sustainable future."

The initiative was also supported by Daimler-backed The Mobility House, local utility Enervie and German transmission system operator Amprion, which is co-owned by RWE and infrastructure investors including Munich Re, Swiss Life and Talanx.

Nissan has so far sold about 370,000 electric vehicles and, along with top shareholder Renault (PA:RENA), has been very active in exploring how car batteries can be integrated into the power system.

While a mass uptake of EVs is expected to put a major strain on the power grid and require billions of euros in infrastructure investments, car batteries have already proven that they can become part of the network.

Nissan is relying on the CHAdeMO charging standard, which competes with Tesla's supercharger system and the European-backed Combined Charging System.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.