Siemens invests in WiTricity to advance wireless EV charging

US-based wireless charging technology company WiTricity has announced that Siemens invests $25 million and acquired a minority stake in it. The official statement holds that Siemens and WiTricity will work together to drive innovation in the emerging market for wireless EV charging as this market is expected to reach $2 billion by 2028 in Europe and North America alone.

Both WiTricity and Siemens will collaborate to advance the technical development of wireless charging systems. The two companies seek to bridge the gaps in the global standardization of wireless charging for electric passenger and light duty commercial vehicles, to enable interoperability between vehicles and infrastructure, as well as support market penetration.

Markus Mildner, CEO of Siemens eMobility, said, “Combining Siemens global footprint and EV charging portfolio with WiTricity’s innovative technology is the first step towards elevating our offering in the wireless charging space. This will speed up deployment of wireless charging technology, support standardization, and advance public charging infrastructure with interoperable solutions for drivers’ convenience.”

Canadian Wireless EV Charging Startup eleapPower Raises $21 Million In Funding

Also Read

WiTricity also said that Siemens will also become a technology license partner, benefiting from WiTricity’s wireless charging solutions.

The Wireless Charging Technology by WiTricity

WiTricity calls its technology ‘innovative and proven.’ A charging pad mounted on or in the ground exchanges power with a receiving coil attached on the underside of the EV. There are no moving parts or physical connectors. Instead, a magnetic field transfers energy between the charging pad and the vehicle coil when the vehicle is over the charging pad. The system uses resonant induction between the charger and receiver in order to provide high efficiency at a variety of ground clearances, from low-slung sports cars to SUVs.

Global EV Charging Station Market to Reach $93 Billion by 2027: Report

Also Read

WiTricity mentions that the ultimate goal of the collaboration with Siemens is to accelerate the maturing of wireless charging technologies together with OEMs and infrastructure partners. It should also be cost-effective and availability globally.

Alex Gruzen, CEO of WiTricity, states, “Wireless charging enables a driver to just park and walk away, returning to a charged vehicle. Wireless charging makes EVs more appealing for individual owners and more cost-effective for commercial operators.”

Siemens and WiTricity share the goal of improving EV ownership and fleet management with the matchless simplicity and reliability of wireless charging,” adds Gruzen.