Volvo Invests in Mobile EV Charging Company

Volvo might not build its own charging infrastructure, but they did just invest in a company that provides mobile EV charging solutions. The Chinese-owned luxury automaker acquired a stake in FreeWire, a company building advanced battery systems to “electrify beyond the grid.”

Freewire’s Mobi Charger is a dual-port Level 2 charger, able to add 30 miles in 1 hour, and the company is teasing a future 120 kW DC fast charger that provides 480 miles in 1 hour. The Mobi Charger can be used as a stationary charger or taken on the road.

This will be helpful since Volvo expects half of all its sales to be electric by 2025, and next year, every single new Volvo will be electrified in some way.

The new Volvo Cars Tech Fund told Reuters that “With electrification there’s going to be a lot of pressure not only to build infrastructure, but also to help consumers get over the range anxiety they feel.”

Read more about this here: https://www.reuters.com/article/us-volvo-electric-charging/volvo-cars-invests-in-bp-backed-charging-firm-to-lure-electric-buyers-idUSKCN1MY1TK