Volvo Group invests in wireless electric vehicle charging company Momentum Dynamics
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
Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, has invested in Momentum Dynamics Inc, a US-based company developing high power wireless charging of electric vehicles.
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.
Per Adamsson, vice president, Volvo Group Venture Capital, said: “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.”
Stefan Söderling, investment director, Volvo Group Venture Capital, said: “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.”