Inductive charging: Electreon plans to acquire InductEV
The two companies have signed a letter of intent for Electreon to acquire InductEV’s assets, according to the Israeli company. Upon completion of a definitive agreement, the combined company would merge Electreon’s dynamic and stationary wireless charging technology with InductEV’s static systems and charging platform, it said.
This combination of the two offerings is intended to create ‘a complete range of wireless charging solutions for all electric vehicle applications.’ The company, which aims to become the global market leader in inductive vehicle charging, would then be able to offer solutions for everything from passenger cars and vans to buses, heavy-duty trucks and autonomous vehicles.
Electreon offers solutions for stationary and dynamic inductive charging (i.e. while driving) with ‘medium to high power’. InductEV, on the other hand, specialises in purely stationary solutions that enable ‘ultra-fast charging’ – for example, of electric buses during a short stop at a bus stop. According to Electreon, the combined company would also have around 400 existing and pending patents and, with its many years of practical experience, could make inductive charging of electric vehicles “smarter, faster, scalable and more economical,” as the announcement states.
However, the announcement does not specify the exact conditions on which the conclusion of a final agreement depends. It states rather generally that the conclusion is subject to due diligence and final agreements. The authorities must also approve the deal and could impose conditions given such concentrated market power in inductive charging.
“Together with InductEV, we are working to create a truly global powerhouse for wireless EV charging – a company unlike anything else in the market, offering wireless solutions for every charging scenario and for every type of customer and vehicle,” said Oren Ezer, CEO of Electreon. “We see this step as a defining moment for Electreon and for the global wireless charging industry. InductEV is the U.S. market leader in ultra-fast stationary wireless charging, and Electreon is the world leader in dynamic wireless charging with a proven, reliable product.”
John F. Rizzo, CEO of InductEV, added: “I’ve long believed that wireless charging will redefine how fleets operate. Electreon shares that vision and brings the global reach and dynamic technology to make it a reality.”
This article was first published by Sebastian Schaal for electrive’s German edition.
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