Everyday Electric acquires Smartcar

Everyday Electric , formerly Renew Home, has acquired connected-vehicle platform Smartcar to expand its residential energy management business into electric vehicles. Financial terms were not disclosed.

Smartcar enables drivers to connect their vehicles with energy and mobility companies without additional hardware. The acquisition brings vehicle connectivity and automotive integrations in-house, supporting managed charging through Everyday Electric’s utility programs.

Everyday Electric says it operates the largest residential virtual power plant in the US, coordinating more than 6 gigawatts of flexible capacity across connected products. The acquisition extends its business beyond thermostats and HVAC systems as it pursues a goal of delivering more than $5 billion in household savings over the next five years.

The company plans to expand Smartcar’s existing direct partnerships with automakers and add new partners. Smartcar’s platform and team will join Everyday Electric, with services for existing customers continuing without interruption.