HomeAutomobileVolkswagen Plans to Use Electric Car Batteries to Compete with Power Firms

Volkswagen Plans to Use Electric Car Batteries to Compete with Power Firms

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Image for Representation
(Reuters)

Image for Representation
(Reuters)

Electric automotive batteries might be used to stabilise the vitality grid by charging the battery in instances of extra provide, Volkswagen stated.

  • Reuters
  • Last Updated: March 15, 2020, 5:38 PM IST
  • Edited by: Chhavianshika Singh

Volkswagen’s enlargement in electrical automobiles will open up new enterprise alternatives in storing and managing vitality, encroaching on enterprise at present dominated by utilities and vitality corporations, chief strategist Michael Jost stated on Thursday. Electric automotive batteries might be used to stabilise the vitality grid by charging the battery in instances of extra provide and promoting electrical energy again to the grid at instances when provides of electrical energy from wind and solar energy are low, Jost stated.

“By 2025 we will have 350-gigawatt hours worth of energy storage at our disposal through our electric car fleet. Between 2025 and 2030 this will grow to 1 terawatt-hours worth of storage,” Jost informed journalists in Berlin. “That’s more energy than is currently generated by all the hydroelectric power stations in the world. We can guarantee that energy will be used and stored and this will be a new area of business.”

The German carmaker just isn’t alone in trying into this discipline. German utility E.ON has been working with Japanese carmaker Nissan to develop so-called vehicle-to-grid (V2G) companies. Volkswagen is launching the ID:three electrical automotive this yr. A fundamental model will price lower than 24,000 euros ($27,000) in Germany, as soon as inexperienced automotive tax breaks and incentives are deducted, placing electrical automobiles on par with combustion-engined variants.

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