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Monday 5 November 2018

Volvo invests in mobile charging company FreeWire

Volvo has acquired a stake in San Francisco-based mobile charging company FreeWire Technologies via the Volvo Cars Tech Fund.

While Volvo does not plan to own charging or service stations directly, it says the investment reflects its support for user-friendly charging options as electric mobility continues to grow.

“To support wider consumer adoption of electric cars, society needs to make charging an electric car as simple as filling up your tank,” said Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund.

With its fast charging technology, FreeWire aims to do just that. Its charging stations use low-voltage power rather than traditional high-voltage connections, enabling charging through existing power outlets.

“FreeWire’s fast charging technology will simplify the experience for customers of electrified Volvos,” said Volvo’s Chief Digital Officer Atif Rafiq. “We aim to make the future of sustainable electric cars more practical and convenient.”

Volvo isn’t the only company to partner with FreeWire; BP invested $5 million earlier this year to offer mobile charging options at fueling stations.

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