BELLEVUE, Wash. and DETROIT, Jan. 9, 2018 /PRNewswire/ -- Ossia Inc.,– innovator of the revolutionary Cota Real Wireless Power technology, and Motherson Innovations (MI) – a subsidiary of SMRPBV that is tasked with developing new technologies and creating platforms for new ideas to be launched, have announced the formation of a Joint Venture (JV) with the objective of bringing Ossia's Cota power system into the interior of some of the world's most popular vehicles.
The newly formed entity will be based in the U.S.A, supported by SMG's global organization and the Joint Venture (JV) will be jointly funded by both companies.
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.
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 range of devices like wearables, smartphones, automotive sensors, IoT devices and batteries.
Motherson is one of the world's leading manufacturers of components and solutions for top vehicle OEMs. Tasked with developing new technologies and creating platforms for new ideas to be launched, MI's latest offering, the breakthrough 'Empathic Cockpit' demonstrator, is currently being displayed at the CES 2018 in Las Vegas.
"Our customers want access to the most advanced technologies available today," said Vaaman Sehgal, Vice Chairman, of Motherson. "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."
"We are thrilled to be working closely with a global leader like Motherson," said 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."
Apart from the investment in the JV, Motherson will also invest $14 million for a stake in Ossia.
About Ossia Inc.
Ossia is challenging people's core assumptions about what is possible with wireless power. Ossia's flagship technology, Cota®, redefines wireless power by safely delivering remote, targeted energy to devices at a distance. Cota technology, Ossia's patented smart antenna technology, automatically keeps multiple devices charged without any user intervention, enabling an efficient and truly wire-free, powered-up world, that is always on and always connected. Ossia is Headquartered in Bellevue, Washington. Visit the website at www.ossia.com to know more.
About Motherson Innovations Company Limited
Motherson Innovations is a subsidiary of SMRPBV that is tasked with developing new technologies and creating platforms for new ideas to be launched. Further information is available on Motherson Innovations' website www.motherson-innovations.com
About Samvardhana Motherson Automotive Systems Group BV
Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is a Samvardhana Motherson Group Company. SMRPBV is joint venture between Motherson Sumi Systems Limited (MSSL), the flagship company of SMG and Samvardhana Motherson International Limited (SMIL), the principal holding company of SMG through their subsidiaries.
SMRPBV has long-term relationships with 14 of the top 15 global OEMs by 2015 production volume and Company's OEM customers collectively represented over 85% of global automotive production in 2015. SMRPBV is present in each major global automotive production region, with 48 production facilities spread among 18 countries. SMRPBV operations include supplies to global automotive industry as Tier 1 supplier through its subsidiaries Samvardhana Motherson Reflectec (SMR) and Samvardhana Motherson Peguform (SMP).
About Samvardhana Motherson Group
Samvardhana Motherson Group is a diversified global group serving the global automotive industry. The Group provides full system solutions right from product design to prototyping, tool manufacturing, moulding and assembly to sequence in line supplies. The Group is ranked the 26th largest auto components supplier globally as per Automotive News.
The Group's automotive product portfolio comprises electrical distribution systems (wiring harnesses), automotive rearview mirrors, moulded plastic parts and assemblies, injection moulding tools, moulded and extruded rubber components, modules and systems including cockpits /IPs, door trims, bumpers, lighting systems, air intake manifolds, pedal assemblies, HVAC systems, vehicle air conditioning systems, roof hatches, cabins for off-highway vehicles, machined metal products, cutting tools, thin film coating metals, IT services, design engineering and CAE services. The Group has also invested in technologies that provide manufacturing support, including compressors, paint coating equipment, auxiliary equipment for injection moulding machines and automotive manufacturing engineering services.
The Group has over 230 manufacturing facilities supported by design centres and support offices spread over 37 countries across North America, South America, Europe, South Africa, Middle East, Asia Pacific and Australia to support its customers across the globe. The Group employs over 100,000 personnel and has 24 collaborators for different products.
SOURCE Ossia Inc.