WATERTOWN, USA - The two companies seek to bridge the gaps in the global standardization of wireless charging.

Siemens invests $25 million and acquires a minority stake in U.S.-based WiTricity, a wireless charging technology company. According to Siemens, they will work together to drive innovation in the emerging market for wireless EV charging.  According to their calculations, this market is expected to reach $2 billion by 2028 in Europe and North America alone.

The two companies seek to bridge the gaps in the global standardization of wireless charging for electric passenger and light-duty commercial vehicles, to enable interoperability between vehicles and infrastructure, as well as support market penetration. In addition, both parties have said that they will collaborate to advance the technical development of wireless charging systems.

"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," said Markus Mildner, CEO of Siemens eMobility.

According to Siemens, they will also become a technology license partner to develop proven, field-tested, interoperable wireless charging solutions.

Source: Siemens