Toyota Motor North America (TMNA) has recently announced a strategic partnership with WeaveGrid to facilitate the seamless integration of Toyota battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs) with the electric grid.
This collaboration follows WeaveGrid’s successful funding round of $28 million, led by Toyota’s growth fund, Woven Capital, earlier this month. The aim of this partnership is to ensure that as Toyota launches more BEVs and PHEVs, they can effectively interact with the electric grid, providing a high-quality experience for customers and utility partners.
Christopher Yang, Toyota’s EV charging solutions group vice president, stated, “Toyota is dedicated to investing in technologies and solutions that offer valuable insights for our customers and electric utility partners on how vehicles will interface with their homes and the electric grid. With the increasing number of Toyota BEV and PHEV customers, we are committed to enriching their ownership journey.”
Recognizing the rapid growth needed to accommodate the surging demand for EVs and emerging energy needs, Toyota is collaborating with WeaveGrid and its utility partners to develop programs that will enhance the grid’s resilience and cost-effectiveness. The goal is to enable customers to reliably charge their vehicles, potentially at lower costs.
Moreover, the initiative explores the dual-use of vehicle batteries for driving and home energy needs, providing benefits for BEV and PHEV drivers and the overall grid system. By 2030, the National Renewable Energy Laboratory (NREL) predicts a significant increase in the number of BEV and PHEV vehicles on US roads, leading to a substantial rise in electricity consumption.
WeaveGrid adopts a systems-based approach, emphasizing the integration and transformation of the energy and transportation sectors to help utilities manage the growing electrification of vehicles from automakers like Toyota.
Yang added, “As Toyota aims to expand the number of BEV and PHEV vehicles we offer, our goal remains to ensure the ownership experience is seamless and customer-friendly. Investing in our infrastructure with WeaveGrid has the potential to provide mutual benefits for customers and power utilities, aligning with our mission to contribute to a carbon-neutral society.”
This partnership signifies a step towards a more sustainable and interconnected future, where electric vehicles seamlessly integrate with the electric grid, benefiting both consumers and the environment.
