Electric vehicle giant BYD and Levo Mobility, a joint venture of Nuvve Holding Corp., announced today a collaboration to integrate Nuvve’s vehicle-to-grid (V2G) technology with a mix of BYD battery electric vehicles (BEVs) and plans for joint deployment of up to 5,000 BEVs over the next five years.
“The BYD-Levo collaboration has the potential to accelerate and transform the transportation sector at a critical time,” said BYD Motors President Stella Li. “This innovative potential partnership leverages state-of-the-art BYD and Nuvve technologies and will provide access to Stonepeak’s financing, which will lower the cost of medium- and heavy-duty battery electric vehicle adoption for fleets of all types including mass transit, municipalities, last mile delivery and school districts.”
Nuvve’s proprietary V2G technology utilizes high-powered bidirectional charging stations which not only charge the batteries but also discharge energy from the batteries back into the power grid as needed to help balance temporary spikes in electricity demand. Nuvve reports that its software enables BEVs to generate revenue while discharging to the grid. Nuvve’s platform also ensures that BEVs will have enough charge for their next trip and selects charging times when utility rates are low.
Through a partnership with BYD, Levo intends to purchase up to 5,000 medium and heavy duty V2G-enabled BEVs over five years that may include transit buses and coaches, yard tractors, drayage and refuse trucks, last mile delivery vehicles and school buses.
Levo provides fleet owners and operators with a turnkey solution that includes electric vehicles, charging infrastructure and energy management powered by Nuvve, maintenance, site planning, and more. These services are provided to customers for a fixed monthly payment with no upfront cost.
“Our collaboration with BYD continues the momentum of transportation electrification that Nuvve is passionate about,” said Gregory Poilasne, Chairman and CEO of Nuvve and Chairman of Levo Mobility. “By integrating our V2G platform with a variety of medium and heavy-duty electric fleets, we can introduce these vehicles to the grid in a much more intelligent and sustainable way, help integrate more renewable energy sources, and ultimately accelerate the reduction of harmful CO2 emissions.”