OVO and Kaluza will partner with Volvo Cars to develop electric vehicle (EV) managed charging solutions to Volvo Cars and OVO customers in the UK. The solutions will include one-way smart charging and bi-directional charging, with both due to launch in 2024. The new Volvo EX90 all-electric SUV will also launch in 2024 and be the first Volvo Cars vehicle capable of bi-directional charging.
The solutions will enable Volvo Cars drivers to save money on their EV charging through Kaluza’s advanced algorithms that shift charging to the cheapest and most sustainable times – technology that has already saved OVO Charge Anytime customers over £2.8 million so far this year. By increasing access to smart charging and lowering EV ownership costs, solutions such as these will support EV adoption in the UK.
The development of bi-directional ‘V2X’ charging services with Volvo Cars will not only allow customers to charge up for less, but reward drivers for exporting surplus energy back to their homes and helping to balance the grid. As a result of OVO and Kaluza’s V2G programme launched in 2018, drivers saved an average of £420 a year on their household electricity costs, with some saving as much as £800.
“V2X is one of the most exciting developments coming out of the transition to electric vehicles. We know that the only way to achieve net zero is to create a smart energy system and flexibility will play a critical role in making that happen. EVs can provide huge amounts of flexibility but to make that a reality we need innovative partnerships such as this to unlock that massive potential, where we can use stored energy in EVs to reduce pressure on the grid, mitigate millions of pounds of infrastructure upgrades and reward customers for doing their bit. OVO is passionate about this, and we are thrilled to be partnering with Volvo and Kaluza,” Alex Thwaites, Director of EV at OVO commented.
“Launching these kinds of managed charging services requires tight collaboration across retailers, OEMs and customers so we are thrilled to be orchestrating this new proposition with Volvo and OVO. Over the last four years, Kaluza has proven the considerable cost and carbon savings potential of one-way charging – value which is multiplied several times over through V2X. We are excited to deliver these innovative services to Volvo drivers up and down the country and accelerate the energy transition together,” Neel Gulhar, Chief Product Officer at Kaluza added.