Charging With Incentives - BMW North America Expands Smart Charging Program Nationally
Portfolio Pulse from Shivani Kumaresan
BMW of North America, a subsidiary of Bayerische Motoren Werke AG (OTC:BMWYY), is expanding its ChargeForward smart charging service across the U.S. This coincides with the launch of the all-electric BMW i5. ChargeForward allows customers to receive incentives for charging their vehicles during times of high renewable energy availability. The program is open to all BMW BEV and PHEV models from 2018 onwards in the lower 48 states. The expansion utilizes carbon data specific to each region's electric grid to optimize charging schedules. BMWYY shares rose 3.89% to $34.20.
November 14, 2023 | 7:21 pm
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BMWYY is expanding its ChargeForward service across the U.S., promoting smart charging for its electric vehicles. This service aligns with the launch of the BMW i5 and aims to incentivize charging during renewable energy peaks.
The expansion of the ChargeForward program is likely to be viewed positively by investors as it enhances the appeal of BMW's electric vehicles and demonstrates the company's commitment to sustainability. The positive price action reflects investor optimism, suggesting a short-term bullish impact on BMWYY shares.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100