Automakers hope for a cut as two-way EV charging becomes real

FILE PHOTO: Electric vehicles are displayed at a shopping mall in Beijing, China, Nov. 3, 2023. REUTERS/Tingshu Wang/File Photo

LONDON (Reuters) - Automakers from General Motors to Volvo Cars, alongside utilities and charging app operators are calculating their financial cut as EVs that allow their owners to sell power back to grids become a more realistic prospect.

Bidirectional, or vehicle-to-grid (V2G), charging lets EV owners charge at overnight off-peak rates then sell power back to grids at a profit during peak hours.