15 January 2018, Mumbai
The Indian auto component major, Motherson Sumi Systems Ltd (MSSL) - part of the Samvardhana Motherson Group (SMG) - has formed a joint venture (JV) with the US-based Ossia Inc, innovator of the revolutionary Cota Real Wireless Power technology. MSSL has formed the JV through its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV).
Motherson Innovations Company Limited (MI), a subsidiary of SMRP BV, will hold majority share in the JV and will aim at bringing Ossia’s Cota power system into the interiors of some of the world’s most popular vehicles. The newly formed entity will be based in the US, supported by SMG’s 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. In addition, the JV will be the distributor of all Cota wireless power products across multiple verticals such as IoT and consumer devices in India.
“Our customers want access to the most advanced technologies available today. After extensive evaluation of multiple wireless power companies, we have chosen Ossia as our preferred partner and are investing to be a part of the broader Cota ecosystem. Wirelessly powering the in-cabin experience and various other sensors is a tremendous technological advancement for both vehicle manufacturers and consumers,” said Vaaman Sehgal, Vice Chairman of SMG.
SMG is one of the world’s leading manufacturers of components and solutions for top vehicle OEMs. MI is tasked with developing new technologies and creating platforms for new ideas to be launched. MI’s latest offering is the breakthrough ‘Empathic Cockpit’ demonstrator.
Mario Obeidat, Chief Executive Officer, Ossia, said, “We are thrilled to be working closely with a global leader like Samvardhana Motherson Group. 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.