BMW invests in EV charging station maker

Reuters - German automaker BMW is investing in Coulomb Technologies, a California-based provider of electric-vehicle charging stations and software.

BMW declined to disclose the amount of the investment in Coulomb, which has EV development agreements with General Motors Co, Ford Motor Co, Nissan Motor Co and luxury hybrid vehicle manufacturer Fisker Automotive.

Coulomb's ChargePoint operates a global network of EV charging stations in more than 14 countries, including the United States.

ChargePoint also provides EV customers, dealers and manufacturers with a variety of cloud-based services, including the ability to locate charging stations, process payments and monitor energy use and costs.

The investment is being made by BMW i Ventures, the automaker's New York City-based venture-capital arm.

BMW is launching a family of electrified vehicles as part of its new i Series, beginning in 2013 with the battery-powered i3 compact.

Coulomb, based in Campbell, California, in May raised $47.5 million in a new round of venture capital led by Braemar Energy Ventures and Kleiner Perkins Caufield & Byers. Braemar has helped to fund battery maker A123 Systems, while KPCB is an investor in Fisker.

Among the latest investors in Coulomb is Toyota TsushO , a member of Japan's Toyota Group.