The company has piqued interest and has recently gained millions in investments from both technological and automotive industries given its solutions to the aforementioned problems.
WiTricity’s aims, technology, and investors
WiTricity’s introduces wireless charging as an alternative to the current standing chargers.
Forbes, the company believes that its technology will not only help with the safety issues of electrical connectors but also increase “factory uptime by 32% through efficiencies gained by allowing continual autonomous operations”.
While they have made deals to have their technology and patents to be used in other fields, their primary focus is the automotive industry. The major investment that helped solidify them in this market was a $25 million investment from Siemens AG, a Germany-based auto supplier.
Forbes writes, “Siemens estimates the global market for wireless charging will reach $2 billion by 2028 in Europe and North America alone.”
The issues at hand with the current EV charging system
Including the fact that the everyday consumer is concerned about where they’ll charge their electric vehicles comes the same, if not more pertinent, issue of commercial and transport vehicles being able to charge efficiently.
While WiTricity CEO Alex Gruzen supports the Biden administration in
expanding the U.S. charging network, Forbes notes that he argues the “use of DC fast chargers for everyday applications is not sustainable” and that the grid can not support it.
Gruzen goes further to say, “The cost of the infrastructure, the cost of fast chargers, the cost per kilowatt hours is awful… if you use DC fast charging to deliver the bulk of your kilowatt hours you give up all the cost savings of shifting to electric versus gasoline and probably impacted battery life.”
The ease and capabilities of wireless charging might persuade people to purchase EVs since people can charge up quickly, especially in cases where people are unable to plug into a DC fast charger.
Through WiTricity Guzman wants to incentivize people to go electric by making Level 2 charging as convenient as possible, “You just do little top-ups whenever you park, wherever you park, instead of this big pipe of power infrequently.”
When will we see WiTricity’s new technology in action?
If you happen to go to the North American Internation Detroit Auto Show in September there will be a demonstration of the new wireless tech in action on the Huntington Place show floor.
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