Both to collaborate leveraging on Europe and North America’s electric vehicle (EV) charging market’s potential to reach US$2 billion by 2028.
Siemens invested US$25 million and acquired a minority stake in U.S.-based WiTricity, a wireless charging technology company. Both will work together to drive innovation in the emerging market for wireless EV charging, which is expected to reach US$2 billion by 2028 in Europe and North America alone, according to Siemens’ calculations.
The two companies seek to bridge the gaps in the global standardisation of wireless charging for electric passenger and light duty commercial vehicles, to enable interoperability between vehicles and infrastructure, as well as support market penetration. In addition, Siemens and WiTricity will collaborate to advance the technical development of wireless charging systems.
Mechanics Of Collaboration
“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 standardisation, and advance public charging infrastructure with interoperable solutions for drivers’ convenience,” said Markus Mildner, CEO of Siemens eMobility.
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