Volvo subsidiary invests in wireless electric charging

Updated Jan 17, 2019

Volvo Group 300x121Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, has announced an investment in Momentum Dynamics Inc., which is developing and commercializing 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 Per Adamsson, Volvo Group Venture Capital vice president.

Wireless electric charging enables 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 drivers 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, according to the announcement.

Momentum Dynamics is conducting pilots in Europe and North America with 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,” says Stefan Söderling, investment director, Volvo Group Venture Capital.

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