Volkswagen AG is delving into electricity trading as part of its broad rollout of battery cars, seeking to add services in energy management and tap new revenue.
(Bloomberg) — Volkswagen AG is delving into electricity trading as part of its broad rollout of battery cars, seeking to add services in energy management and tap new revenue.
The carmaker’s Elli unit will start buying and selling electricity on EPEX Spot SE, Europe’s largest short-term power exchange, on Wednesday, backed by a stationary storage system built from older e-up!, eGolf and ID.3 batteries, VW said.
The pilot project seeks to optimize use of renewable energy, lower charging costs and expand second-life battery use.
VW is seeking ways to drive revenue from its new power value chain as it builds a number of major battery plants, as well rolling out a swathe of EV models.
Elli’s trading activities are designed to fine tune plans such as offering drivers the option to sell excess electricity at attractive prices and reduce the cost of vehicle ownership.
“We want to give our customers a clear advantage in terms of electricity prices and at the same time develop new, high-revenue business models,” Volkswagen’s head of charging and energy Giovanni Palazzo said in a statement.
Read more: Volkswagen’s EV Battery Effort Keeps Its Executives Up at Night
The company is also weighing options around large-scale stationary battery systems that extend the life of an EV battery as well as stabilize grids transmitting an increasing proportion of renewable energy.
Tesla Inc. is already behind a number of so-called Megapack installations to supply power to the grid.
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