To enhance the integration of blockchain technology in electric vehicles (EVs), Volkswagen group and Energy Web have come together for a strategic partnership. The association will specifically explore the areas of digitalization and charging infrastructure to support the adoption drive of EVs across the globe. Through this association, both companies will develop and test an open-source software that enables the seamless integration of EVs and the electricity market.
The tech-stack of Energy Web will get paired with existing standards of EVs charging with the public key infrastructure network of Electrify America. Given the prominence EVs have assumed globally, this association is touted as the game-changer that will revolutionize the EVs’ adoption among target markets.
EVs can considerably reduce tailpipe emissions, thereby decreasing the intensity of overall pollutants in the environment. Besides, they can also contribute significantly to the energy system by decongesting the network. Experts and analysts find this association specifically significant as this project will allow the seamless integration of EVs in the energy markets ecosystem. Customers will get additional benefits in earning money by offering the services of their EVs in better management of the energy grid, thereby creating a Win-Win situation for all the stakeholders involved in the ecosystem.
Volkswagen is one of the market leaders in electric mobility, and its EVs are among the best-selling models around the world. The company is poised to invest €35 billion only in electric mobility, and by 2030, it is expected to launch almost 70 pure EVs in the market.
Given the exponential increase in the demand EVs are expected to achieve, with Bloomberg New Energy Finance predicting the number to rise to 54 million by 2040, this collaboration leads the way for electric mobility and its future. In the form of the electric mobility domain, blocking technology has found yet another application that seems significantly promising and beneficial for the industry. In the pilot project, electric vehicle supply equipment and EV of the VW will be integrated with the Energy Web’s decentralized tech-stack to offer a cost-effective, secure and regulatory compliant solution to grid operators and electricity markets.