WeaveGrid Secures Strategic Investment from Hyundai Motor and Kia, Reinforcing Leadership in EV Charging Management

Investment highlights WeaveGrid's growing partnerships with leading automotive brands and commitment to grid-interactive electric vehicle solutions

SAN FRANCISCO, Jan. 29, 2025 /PRNewswire/ -- WeaveGrid, a software company that enables rapid electric vehicle (EV) adoption on the power grid, today announced a strategic investment from Hyundai Motor Company and Kia Corporation, further solidifying its position as the preferred software solution for automakers seeking to securely and seamlessly integrate their EVs with the electric power grid.

By leveraging WeaveGrid's technology and patented software solution, automakers can seamlessly integrate EVs with the electric power grid while ensuring that vehicle data is handled with the highest security. The company's EV Management System (EVMS) enables grid-integrated EV charging and offers a comprehensive suite of solutions for utilities. This includes a platform that enables vehicle-to-grid capabilities and a patented approach to distribution-integrated smart charging orchestration (DISCO), built with artificial intelligence (AI) technology.

Joining Woven Capital, Toyota's growth fund, this investment by Hyundai Motor and Kia underscores WeaveGrid's status as the proven platform of choice for grid-interactive vehicle technologies. With three major automotive competitors investing directly in the platform, WeaveGrid is establishing itself as the definitive solution for co-developed, cybersecure EV-grid integration.

"Hyundai is particularly excited about WeaveGrid's ability to transform our software-defined vehicles into intelligent, grid-interactive assets, building on our Bluelink+ system," said Keith Noh, Vice President at Hyundai Motor Company and Head of the ZER01NE Group. "Our software-defined EVs require a sophisticated platform that can securely manage vehicle data, optimize charging patterns, and strengthen the grid. WeaveGrid's technology allows us to turn our vehicles into dynamic energy resources that can communicate intelligently with the electric grid, creating value for drivers, utilities, and the broader energy ecosystem."

Apoorv Bhargava, CEO of WeaveGrid, highlighted the industry-wide significance of these strategic investments: "With Hyundai Motor and Kia joining Toyota as investors in our platform, we're seeing a clear industry convergence. These investments validate our approach to creating a cybersecure, seamless solution that enables automakers to transform their EVs into grid-interactive vehicles. With our solutions already deployed with some of the largest utilities in the country, we're establishing the foundation for how hundreds of millions of EVs and the grid will work together."

The strategic investments underscore WeaveGrid's unique position in the market. As the only platform with over a dozen official integrations with automotive brands and EV charging suppliers, WeaveGrid is pioneering a new approach to high-quality, cybersecure EV charging management. By providing a unified, secure platform, the company is solving one of the most complex challenges in decarbonizing transportation: ensuring electric grid reliability by transforming EVs into grid-interactive assets.

As the electric vehicle market in the United States continues to rapidly evolve, WeaveGrid's innovative approach addresses critical challenges in EV charging, including grid load management and renewable energy integration. With this latest investment, WeaveGrid is poised to accelerate the shift towards intelligent, grid-interactive electric transportation, offering a scalable solution that meets the complex needs of automakers, utilities, and EV drivers alike.

About WeaveGrid

WeaveGrid empowers automakers and electric utilities to intelligently deploy and maximize the value of grid-interactive vehicles, while creating enhanced charging experiences for EV drivers. Utilizing WeaveGrid's market-leading managed charging platform, automakers and utilities can accelerate the rapid adoption of EVs while ensuring grid stability. For more information, please visit www.weavegrid.com.

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SOURCE WeaveGrid