Volvo invests in EV charging company FreeWire
Volvo takes the next step in its e-commitment by acquiring a stake in FreeWire Technologies, a San Francisco-based company that has been a pioneer in flexible fast-charging technology for electric cars. It specialises in both stationary and mobile fast charging technology, allowing electric car charging to be deployed quickly and widely.
Installing traditional fixed fast-charging stations is usually a cost- and labour intensive process that requires a lot of electrical upgrades to support the connection between charging stations and the main electrical grid. FreeWire’s charging stations remove that complication and use low-voltage power, allowing operators to simply use existing power outlets. This means drivers can enjoy all the benefits of fast charging without operators needing to go through the hassle of establishing a high-voltage connection to the grid.
Easy as filling up your tank
“To support wider consumer adoption of electric cars, society needs to make charging an electric car as simple as filling up your tank. Our investment in FreeWire is a firm endorsement of the company’s ambitions in this area”, says Zaki Fasihuddin, CEO of the Volvo Cars Tech Fund.
“Freewire’s fast charging technology holds great promise to simplify the experience for customers of electrified Volvos,” said Atif Rafiq, chief digital officer at Volvo Cars. “With this move, we aim to make the future of sustainable, electric cars more practical and convenient.”
“We’re thrilled to partner with Volvo Cars to develop new markets and business models around our EV fast charging and ultra-fast charging technology,” said Arcady Sosinov, CEO of FreeWire. “Having a car maker with both the legacy and future vision of Volvo is going to give us access to technology, testing, and new strategies that will really accelerate the growth of the company.”