WiTricity Signs First South Korean Licensee

Yura Corporation licenses WiTricity wireless charging technology for electric vehicles

Watertown, Mass., U.S.A. – February 26, 2019WiTricity, the industry pioneer in wireless power transfer over distance, has entered into a technology licensing agreement with Yura Corporation, a leading 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 xEVs (pure electric vehicles). 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 is WiTricity’s first Tier 1 licensee located in South Korea and is one of the largest Asian producers of EV and plug-in hybrid electric vehicle components for both domestic use and export.

Global automakers are investing in the development and production of wireless charging technology recognizing that a key driver of EV adoption is making charging a simple, efficient and hands-free experience. WiTricity’s DRIVE 11 system delivers 11 kW of power at efficiency and speed that matches or exceeds most conventional plug-in EV chargers.

WiTricity is actively involved in defining global wireless EV charging standards, critical for large-scale deployment and interoperability of EV wireless charging.

“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.”

About Yura Corporation

Yura Corporation specializes in designing, developing, and manufacturing automotive parts including wiring harnesses and electronics modules. Yura Corporation is a technology-oriented company with a long history in the Korean automotive market. With technical knowledge dating back to 1970, Yura has continued development in these core technologies.

Yura Corporation’s launch into the Chinese market in 2002 began the company’s globalization including the Asian, European, and North American automotive markets. Today, with a network of 20 corporations and 46 business sites in 14 countries, the company has solidified its position as a global specialist in the automotive components market.

Today, Yura Corporation’s capabilities have expanded into the eco-friendly automotive market to include high voltage connectors, high voltage junction blocks, and charging couplers. In preparation for the 4th Industrial Revolution, Yura Corporation is accelerating development of key technologies needed for eco-friendly (electric), autonomous, and connected automobiles to become a leader in the market.

About WiTricity

WiTricity develops wireless power solutions using its patented magnetic resonance technology. WiTricity works with top global automakers and Tier 1 suppliers to deploy EV wireless charging, helping realize a future of transportation that is electrified, shared and autonomous. See how WiTricity makes EV charging easy, transparent and hands-free. Get to know WiTricity.

Following WiTricity’s recent acquisition of the Qualcomm Halo IP portfolio, the company is now uniquely positioned to license EV wireless charging intellectual property. Licenses have been announced with Toyota, Aptiv (formerly Delphi), Mahle, TDK, IHI, Shindengen, Daihen, BRUSA, Anjie Wireless, and Yura. Global corporate investors now include Qualcomm, Toyota, Intel Capital, Delta Electronics Capital, Foxconn, and Schlumberger. WiTricity is also collaborating directly with leading carmakers to drive global standards for wireless charging systems. Standards initiatives include the SAE International, International Electrotechnical Commission (IEC), International Organization for Standardization (ISO), STILLE, China Automotive Technology & Research Center (CATARC), China Electricity Council and the Chinese Electric Power Research Institute (CEPRI).

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WiTricity – Version 2.0 Communications

Allison Webster