BYD has partnered with Levo Mobility, a joint venture of Nuvve Holding, Stonepeak Partners and Evolve Transition Infrastructure, to integrate Nuvve’s V2G technology with BYD EVs. The companies plan to deploy up to 5,000 V2G-equipped EVs over the next five years.
Nuvve’s V2G technology uses bidirectional charging stations to enable EVs to discharge energy from their battery packs to the power grid as needed to help balance temporary spikes in electricity demand. Using Nuvve’s bidirectional charging stations and proprietary software, EVs can act as energy storage assets. This not only reduces costs by charging when utility rates are low, it actually enables fleet operators to earn revenue by providing services to the grid.
Through a preferred financing partnership with BYD, Levo intends to purchase up to 5,000 medium- and heavy-duty V2G-enabled EVs over five years. These may include transit buses and coaches, yard tractors, drayage and refuse trucks, delivery vehicles and school buses.
Levo streamlines the electrification process for fleet operators by providing a turnkey solution that includes vehicles, charging infrastructure and energy management powered by Nuvve, maintenance and site planning. These services are provided to customers for a fixed monthly payment with no upfront cost.
“This partnership would provide a much-needed financing solution and the world’s leading V2G platform to catalyze the electrification initiative,” said Sam Kang, BYD’s head of Total Solutions.
“This 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 EV adoption for fleets of all types, including mass transit, municipalities, last-mile delivery and school districts,” said BYD Motors President Stella Li.
“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, and help integrate more renewable energy sources,” said Gregory Poilasne, Chairman and CEO of Nuvve and Chairman of Levo Mobility.