In August 2023, King of Prussia became the hub of the electric vehicle (EV) world as InductEV, a frontrunner in wireless EV charging, hosted its inaugural “Unwired” event. This engaging session attracted over 150 stakeholders, from investors and partners to potential clients, showcasing the company’s wireless high-power and high-speed EV charging innovations.
Why It Matters
The accelerated growth of the electric vehicle industry underscores the demand for efficient and advanced charging solutions. InductEV’s leadership in the wireless EV charging domain indicates the evolving future of vehicle charging and demonstrates their market dominance. The “Unwired” event provided a platform to emphasize this trajectory and reveal the substantial growth potential in the forthcoming years.
Key Points
- CEO Barry Libert opened the event, focusing on InductEV’s impressive growth, past-year milestones, and the bright future.
- Chief Product Officer, Tony Calabro, drew parallels between wireless EV charging and cell phone charging, elucidating the underlying technology.
- Guest speaker, Loren McDonald of EVAdoption.com, delved into the growth of the EV sector, spotlighting the wireless charging market for commercial vehicles.
- Dave Dealy, the company’s President and Chief Commercial Officer, highlighted the rapid electrification within inter-modal, port, and rail industries.
- The event revealed significant cost savings using InductEV’s technology. For instance, transitioning a transit bus fleet to wireless charging resulted in a 54% operational expenditure reduction and 33% lower ownership costs.
- Product benefits for a range of electric bus fleets were presented, showcasing real-world advantages such as the significant savings experienced by Link Transit Company in Washington.
- InductEV’s engagement in setting industry standards was highlighted by Jason Stolnis, emphasizing their active role in the high-power wireless standard development.
- Financial growth plans were elaborated by CFO Brian Callahan, including details on the recently closed $40M Series B round.
- The event also covered in-depth global perspectives on EV adoption, government incentives, and the pressing need to transition toward cleaner transportation solutions.
Bottom Line
InductEV’s “Unwired” event was more than just a presentation; it was a statement of intent in the rapidly evolving world of electric vehicles. The company’s pioneering role in wireless EV charging was showcased in-depth, highlighting its promising trajectory in the global market. Alongside the event, InductEV inaugurated the nation’s premier R&D Center dedicated to high-power, high-speed wireless charging, further solidifying its position as an industry leader. As EV adoption surges, InductEV stands at the forefront, championing efficient and groundbreaking charging solutions for a sustainable future.
