Ford Motor Company (NYSE: F), a leading electric vehicle manufacturer, Honda, and BMW are partnering to create ChargeScape, an equally-owned company set to revolutionize the electric vehicle (EV) industry in the U.S. and Canada. This innovative platform will connect EV utilities, automakers, and EV customers, offering benefits to all parties.

ChargeScape's platform eliminates the need for individual integrations between automakers and utilities, allowing electric utilities to access energy from a wide range of EVs. EV customers can earn financial benefits by charging during optimal times, and they'll have the opportunity to share stored energy with the grid through vehicle-to-grid (V2G) applications.

The platform will also provide energy data to utilities, enabling efficient demand response, aligning charging with off-peak hours, and promoting renewable energy usage. This collaboration addresses the increasing demand for electricity due to growing EV sales and infrastructure expansion.

Bill Crider, global head of charging and energy services at Ford Motor Company stated: "ChargeScape will help accelerate the true potential of the EV revolution by providing significant benefits to both utilities and EV customers through smart vehicle-to-grid services."

Ford is a global company based in Dearborn Michigan, inventing breakthrough EVs along with embedded software that defines always-on digital experiences for all customers.

Shares of Ford Motor Company trade on the NYSE under the ticker symbol F.