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© Pixabay Electronics Production | January 15, 2019

Volvo invests in wireless electric charging

Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, announces that it has man an investment in Momentum Dynamics Inc – a company in high power wireless charging of electric vehicles.

Momentum Dynamics is a Philadelphia-based company developing and commercialising high power inductive charging for the automotive and transportation industries, especially suitable for commercial electric, autonomous and connected vehicles. "Momentum Dynamics' technology and competence within inductive bi-directional transmission of electrical energy and information safely through air, water and ice will fit the harsh conditions under which our customers operate. High capacity charging up to 300 kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition," says to Per Adamsson, Vice President at Volvo Group Venture Capital, in a press release. Wireless electric charging allows any type of vehicle to automatically and without supervision connect to the electrical power grid without the use of wires or cables. Without the need for a driver to plug in their vehicle to a charging station, automatic and bi-directional "electric fueling" may occur frequently and opportunistically – resulting in efficient use of battery capacity, longer driving ranges and improved uptime. Momentum Dynamics is conducting pilots in Europe and North America with both fleets and vehicle manufacturers of cars, buses, trucks and trains. "For Volvo Group we are strengthening our competence and knowledge of charging and electricity distribution within the ecosystem around electric transportation and energy supply. We see partnership, cooperation and investments as the way forward in a fast-changing environment," adds to Stefan Söderling, Investment Director at Volvo Group Venture Capital.
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December 12 2019 10:59 am V14.8.5-1