Auto components major Motherson Sumi SystemsBSE 0.76 % Limited (MSSL) Tuesday said it has formed a joint-venture with Ossia through its subsidiary Samvardhana Motherson Automotive Systems Group BV.
US-based Ossia is the innovator of Cota Real Wireless Power technology.
Motherson Innovations Company Limited(MI) – a subsidiary of Samvardhana Motherson Automotive Systems Group B.V.(SMRPBV) – will hold majority share in the JV. The new entity will be based in the USA, supported by SMG’s (Samvardhana Motherson Group) global organisation.
Apart from the JV, MI will also invest $14 million for a 4.5% equity stake in Ossia Inc.
Globally, the JV will focus on the integration of Cota technology into a wide range of non-military passenger, commercial and public transportation vehicles. “The JV aims to have its systems deployed in both private and public vehicles by 2021 to not only deliver continuous wireless power to occupants’ personal devices, but also power various sensors in and on the vehicles themselves, including brake sensors, tire pressure gauges and key fobs”, MSSL said in a statement.
The JV will be the distributor of all Cota wireless power products across multiple verticals such as IoT and consumer devices in India.
SMG is a leading manufacturer of components and solutions for vehicle manufacturers globally. MI is tasked with developing new technologies and creating platforms for new ideas to be launched.
Ossia Chief Executive Officer, Mario Obeidat. “This Joint Venture is a validation of Cota Real Wireless Power, which will be commercialized worldwide for the automotive industry.”
Ossia is the developer of the patented Cota technology, which redefines wireless power by safely delivering targeted energy to devices at a distance. Cota technology uses radio frequency to power a range of devices like wearables, smartphones, automotive sensors, IoT devices and batteries.
