Siemens Backs Wireless EV Charging Startup
June 09 2022 - 6:55AM
Dow Jones News
By Will Feuer
German conglomerate Siemens AG said it has invested $25 million
and taken a minority stake in U.S.-based wireless electric vehicle
charging startup WiTricity.
The two companies will collaborate to advance the technical
development of wireless charging systems, they said.
"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," WiTricity Chief Executive Alex Gruzen
said.
Siemens eMobility Chief Executive Markus Mildner said the deal
"will speed up deployment of wireless charging technology, support
standardization, and advance public charging infrastructure."
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
June 09, 2022 06:40 ET (10:40 GMT)
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