-
Toyota Motor Corporation (NYSE: TM ) Toyota Motor North America will collaborate with Oncor Electric Delivery, a Texas-based electric transmission and distribution company, on a near-vehicle-to-grid (V2G) pilot project.
-
V2G is a technology that allows vehicles to feed energy from their batteries back into the electrical grid.
-
The effort will be led by Toyota’s Electric Vehicle Charging Solutions (EVCS) team.
-
This collaboration with a public utility marks the first for Toyota in the United States around battery electric vehicles (BEVs).
-
Also read: Toyota offers Prius cost savings for customers who opt for software updates
-
The research aims to allow Toyota and Oncor to better prepare to support the expanding EV charging ecosystem in the United States.
-
The two companies have agreed to a research project that will use Oncor’s research and testing microgrid at its System Operating Services Facility (SOSF) in South Dallas.
-
Price action: TM shares were trading down 1.66% at $142.24 at last check on Thursday.
-
Image via company
See more from Benzinga
Never miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.