Siemens Acquires Minority Stake in WiTricity

Adrian J Cotterill, Editor-in-Chief

Siemens has invested USD 25 million and acquired a minority stake in U.S.-based WiTricity.

We are told that Siemens and WiTricity will work together to drive innovation in the emerging market for wireless EV charging – a market that is expected to reach USD 2 billion by 2028 in Europe and North America alone, according to Siemens’ own calculations.

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”.

Siemens will also become a technology license partner, benefitting from WiTricity’s deep know-how and decade-long collaboration with global automotive OEMs to develop proven, field-tested, interoperable wireless charging solutions.

No doubt, the ultimate goal of the collaboration is to accelerate the maturing of wireless charging technologies together with OEMs and infrastructure partners to simultaneously ensure their cost-effective availability worldwide.

A recent survey of more than 1,000 current and future EV owners interested in purchasing an EV in the next two years indicated that wireless charging was one of the highest-rated add-ons and a more preferred option to other amenities, including park-assist, performance, or premium audio packages.

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