WiTricity continues building momentum in China with VIE

The terms of the license agreement will allow the company to develop and commercialise wireless EV charging systems for sale to carmakers in the China market based on WiTricity’s magnetic resonance technology and designs. The Chinese government is playing a large role in increased EV adoption, offering subsidies to EV buyers and quotas for EV sales. Governments at the city-level are also weighing in, creating restrictions on internal combustion engine vehicle purchases. Officials predict that a complete ban on gas-powered automobiles will happen in China by 2040. VIE, headquartered in Zhuji city, China, specialises in R&D and manufacturing of major automotive parts and is a leading developer in the automotive industry. VIE’s subsidiary has been active in research and development of wireless charging for the past four years and is already engaged with multiple carmakers. “The addition of WiTricity’s technology to the VIE family’s product line is advantageous for the future of e-mobility,” said Mervyn Chen, Chairman at Zhejiang VIE Science and Technology. “Wireless charging will support increased EV adoption in China. VIE will strive to meet the needs of both China-based and global carmakers that are targeting the Chinese market. We also believe that WiTricity’s recent acquisition of Qualcomm Halo’s assets will simplify and accelerate the implementation of standards for wireless charging, which will result in broader adoption in the market.” “Wireless charging is an important component of the EV and autonomous vehicle ecosystem in China. We are proud to be working with an experienced Tier 1 company to bring wireless EV charging to market and accelerate EV momentum in China,” said Alex Gruzen, CEO, WiTricity.