Investments in wireless electric charging could support the transition to EVs

Volvo Group Venture Capital, a subsidiary of Volvo Group, has announced an investment in Momentum Dynamics Inc – a company in high power wireless charging of electric vehicles.

Momentum Dynamics develops and commercialises high power inductive charging, especially suitable for commercial electric, autonomous and connected vehicles.

Per Adamsson, Vice President at 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 300kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition.”

Wireless electric charging allows any type of vehicle to automatically connect to the electrical power grid without the use of wires or cables. Without the need to plug in a vehicle to a charging station, automatic and bi-directional ‘electric fuelling’ may occur frequently and opportunistically – resulting in efficient use of battery capacity, longer driving ranges and improved uptime.

“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,” said Stefan Söderling, Investment Director at Volvo Group Venture Capital.