Electric Vehicles are growing exponentially across the UK and EU. In the UK whilst licenced EVs currently represent 0.5% of the market, National Grid suggests EVs could reach between 2.7 and 10.6 million by 2030 and could rise as high as 36 million by 2040. This anticipated rapid growth presents challenges for grid networks which must be overcome. These include demand balancing issues where sudden surges in EV charging, not accurately quantifiable, currently presents grid capacity issues. Also, EV drivers travelling long distances are uncertain as to how charging payments can be made to different regional suppliers. The entire integration of EV batteries onto the grid presents questions which the EVOS platform resolves.
Additional issues arise when EV drivers plan routes via their GPS systems which will ensure their safe arrival using an optimal travel plan etc.
Power Transition has collaborated with EV fleet leasing companies to integrate DLT technology into the fleet dealer Automobile Event Data Recorders (a.k.a. "black boxes" or EDRs). The system will provide guaranteed, secure transfer of messages and transaction to and from the EV and a dealership administration centre. Each EV will hold an electronic wallet capable of paying charge points directly in a secure digital currency exchange.
Our DLT approach powered by Hedera Hashgraph provides seamless integration. It can be installed as a node into every vehicle with a minimal IT footprint and host a variety of functions from micro-payments to smart contracts and digital signatures whilst providing unprecedented levels of cybersecurity.