WiTricity Signs First South Korean Automotive Tier-1 Licensee

February 28, 2019 by Paul Shepard

WiTricity has entered into a technology licensing agreement with Yura Corporation, a South Korea-based automotive tier-1 supplier. Yura is a global supplier of a wide range of automotive parts for conventional vehicles and eco-friendly EVs. The agreement will allow Yura to access WiTricity's wireless charging technology, support, and intellectual property (IP) rights to develop and commercialize wireless EV charging systems.

Yura, which owns 20 corporations and operates 46 business sites in 14 countries in Asia, Europe, and North America, specializes in designing, developing, and manufacturing automotive parts including wiring harnesses and electronics modules.Recognizing that making wireless technology simple, efficient, and hands-free is a crucial driver of EV adoption, global automakers are investing in the development and production of wireless charging technology, according to WiTricity.

WiTricity contends that its DRIVE 11 system delivers 11kW of power at efficiency and speed that meets or exceeds most conventional plug-in EV chargers. Moreover, WiTricity says it is actively involved in defining global wireless EV charging standards, critical for large-scale deployment and interoperability of EV wireless charging.In addition to having 700+ patents granted worldwide and 800+ international patents pending, WiTricity is the exclusive global licensor of foundational MIT patents and University of Auckland wireless power transfer patents.

"WiTricity offers the most experience and know-how in the EV wireless charging market. We will rely on their advanced offering to help us build wireless charging system in the future," said Yong Kyu Roh, Executive Vice President & Chief Technology Officer, Yura.

"The global demand for EVs is advancing rapidly. South Korea is an important market for EV development and production. Yura's selection of WiTricity is a testament to our sophisticated technology and progress in driving global standards," said Alex Gruzen, CEO, WiTricity. "We look forward to a strong partnership with Yura and contributing to EV adoption on a global basis through efficient and convenient wireless charging."