Motherson Sumi partners with Ossia to develop Cota technology
Motherson Sumi Systems, through its subsidiary Samvardhana Motherson Automotive Systems Group B.V. (SMRPBV), announced the formation of Joint Venture with Ossia to bring real wireless power to the automobile.
Motherson Innovations, a subsidiary of SMRPBV will hold majority share in the JV and will aim at intergrating Ossia’s Cota power system into some of the world’s most popular vehicles. 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 charge a range of devices.
Globally, the JV will focus on the incorporation of Cota technology into wide range of non-military passenger, commercial and public transportation vehicle by 2021 to deliver constant wireless power to personal devices as well as power various sensors in vehicles, including brake sensors, tire pressure gauges and key fobs.
Motherson Sumi Systems, the flagship company of the Samvardhana Motherson Group is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry. It furnishes to a range of customers in the automotive and other industries across Asia, Europe, the Americas, Australia and Africa.
On Wednesday, the stock opened at Rs. 387 per share, around 1 per cent up from its Tuesday’s closing of Rs. 383, on the BSE.