WiTricity Acquires Qualcomm Halo
WiTricity announced this February that it will be acquiring Qualcomm’s electric vehicle charging technology Qualcomm Halo. As part of the deal, Qualcomm will become a minority shareholder in WiTricity. WiTricity was spun out of the Massachusetts Institute of Technology (MIT) in 2007 and has since raised around US$40 million from investors such as Intel and Foxconn, while Qualcomm Halo was born as a result of Qualcomm’s acquisition of HaloIPT. WiTricity gained a massive advantage in the market when BMW became the first OEM to incorporate wireless charging using its technology, while Qualcomm Halo struggled to gain any OEM customers. The acquisition will therefore allow WiTricity to double down on their already commanding position in wireless charging while also allowing Qualcomm to focus on other areas in automotive, such as infotainment, 5G, and V2X.
Critically, this acquisition will bring together two competing technologies, simplifying interoperability as well as helping to accelerate time to market by simplifying the process toward a single standard…
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