Siemens invests in WiTricity to advance wireless charging for electric vehicles

Siemens has invested $25 million in WiTricity, a wireless charging technology company specialising in EV charging. By investing, Siemens has acquired a minority stake in WiTricity, and entered the EV wireless charging market in earnest. 

Whilst WiTricity has raised more than this in previous single rounds of funding, it is a significant gesture by Siemens showing a genuine interest in WiTricity’s wireless charging technology. Siemens is well positioned globally to enable widescale roll out of EV charging technology and is already heavily involved in wired EV charging infrastructure. This partnership could first help to accelerate standardisation of wireless charging for EV and then rollout of solutions. SAR Insight & Consulting forecasts the EV wireless charging market in its Wireless Power and Charging Technologies service and EV charging station infrastructure in its EV Charging service

Ross Denyer Market Analyst, Power Technologies

Ross is a market analyst for power technologies at SAR Insight & Consulting. He is tasked with analyzing, comparing, and forecasting new technologies, markets, and products in the industry.

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