Volvo has announced an investment in Momentum Dynamics, a high-power wireless charging company, in the latest move by a major auto group for dominance in the electric vehicle market. The Volvo Group Venture Capital AB, a subsidiary of the Volvo Group, said it was investing in the Philadelphia-based company which develops high-power wireless charging systems for trucks, buses and construction equipment, on Tuesday. It comes during the Detroit auto show and follows high-profile moves by rival companies into the electric and autonomous vehicle market in recent weeks. On Monday Volkswagen unveiled an $800m investment to build electric vehicles at its US plant in Chattanooga, Tennessee.
FT 15th Jan 2019 read more »