A residential electric-car charger spends most of its time just hanging around unused.
That underutilization looked like a opportunity to Val Miftakhov, CEO of the smart charger startup eMotorWerks. On Tuesday, the company launched a beta test of a distributed, peer-to-peer charging marketplace in California that lets drivers pay each other for use of their home chargers.
If successful, this concept could drastically expand the population of readily available EV chargers, at least in places with a high density of home charging stations. That reduces range anxiety, promoting more EV ownership and potentially generating a virtuous cycle.
For a charger company like eMotorWerks, this is part of a broader strategy to move from selling hardware alone to offering software that generates value beyond the initial purchase.