Volvo Group invests in Pennsylvania-based wireless charging firm

Volvo Group Venture Capital, a subsidiary of the Volvo Group, has invested in an organization that specializes in the “high power wireless charging of electric vehicles.”

The wireless charging enterprise, referred to as Momentum Dynamics, relies in Pennsylvania. It is growing and commercializing “high power inductive charging for the automotive and transportation industries.”

The Volvo Group mentioned Tuesday that wireless charging enabled autos to hook up with energy grid with no need to make use of wires or cables. This may be executed mechanically and with none supervision.

Momentum Dynamics is at the moment finishing up pilots in each North America and Europe. These contain fleets and automobile producers of buses, automobiles, trains and vehicles, the Volvo Group mentioned.

“For Volvo Group we are strengthening our competence and knowledge of charging and electricity distribution within the ecosystem around electric transportation and energy supply,” Stefan Soderling, funding director at Volvo Group Venture Capital, mentioned in an announcement.

“We see partnership, cooperation and investments as the way forward in a fast-changing environment,” Soderling added.

In 2017, there have been greater than 3 million electrical and plug-in hybrid automobiles on the planet’s roads, in keeping with the International Energy Agency’s (IEA) Global Electric Vehicles Outlook. This represents a rise of 54 p.c in comparison with 2016.

Almost 580,000 electrical automobiles have been bought in China in 2017, in keeping with the IEA, whereas round 280,000 have been bought in the U.S.

In phrases of charging infrastructure, the IEA says that, globally, there have been an estimated 3 million personal chargers at properties and workplaces in 2017. The variety of “publicly accessible” chargers amounted to roughly 430,000.

This week’s information represents the newest foray by a serious enterprise into the electrical automobile charging sector.

In January 2018, as an example, oil main subsidiary BP Ventures invested $5 million in FreeWire Technologies, a U.S. firm that specializes in cell electrical automobile speedy charging programs. In October 2018, Volvo Cars introduced it had purchased a stake in FreeWire Technologies.

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