The electric vehicle charging startup, WiTricity, has made significant changes in its operations, including relocating its headquarters from Massachusetts to Georgia. The company’s new CEO, Joe Benz, has cited cost savings as a primary reason for the move, but also highlighted the state’s business-friendly environment and access to a skilled workforce. ### Key Challenges and Opportunities
The company, which was founded in 2007, has faced numerous challenges in the electric vehicle charging market. Despite its innovative technology, WiTricity has struggled to secure partnerships with major manufacturers, including Tesla. The company had been exploring the integration of its wireless charging technology into Tesla’s vehicles, but the talks were ultimately put on ice. #### Major Partnerships and Collaborations
WiTricity has partnered with several major manufacturers, including BMW, Toyota, and Hyundai. However, its technology has only been implemented in a limited number of leased vehicles, which added significant costs to the installation process.
| Manufacturer | Partnership | Implementation |
|---|---|---|
| BMW | Partnership for wireless charging of electric cars | Limited implementation in leased vehicles |
| Toyota | Partnership for wireless charging of electric cars | Limited implementation in leased vehicles |
| Hyundai | Partnership for wireless charging of electric cars | Limited implementation in leased vehicles |
#### New Focus on Smaller Vehicles
Despite the challenges in the electric vehicle market, WiTricity has shifted its focus to smaller vehicles, such as golf carts and “neighborhood electric vehicles.” The company sees this as a more viable opportunity for generating revenue in the short term. “The golf cart market is a nice little niche business that can generate revenue here and now,” says Joe Benz. “Before the passenger car market grows to higher sales volumes, we can establish a presence in this market.”
#### Key Executives and Departures
In recent months, WiTricity has experienced significant executive departures, including the company’s head of human resources, chief marketing officer, senior vice president of engineering, and chief financial officer. Benz has stated that all key positions are now filled, but declined to provide further details. #### Recent Developments and Challenges
WiTricity has faced several challenges in recent months, including lawsuits related to its wireless charging patents and a decision to manufacture its products in the United States instead of China. The company has also experienced significant changes in its leadership team. Despite these challenges, WiTricity remains committed to its mission of providing innovative wireless charging solutions. The company’s relocation to Georgia is seen as a strategic move, taking advantage of the state’s business-friendly environment and access to a skilled workforce. ### Expert Insights
According to Will Graylin, an entrepreneur who has tracked WiTricity, the company has struggled to find its footing in the market. “WiTricity has a solution looking for a problem,” he says. “Instead of making and selling a product, they have had to wait for car makers to choose to integrate their technology.”
Graylin, who is also the CEO of indiGo, a Woburn company that designs electric and autonomous vehicles for ride-share and delivery services, believes that WiTricity’s focus on smaller vehicles may be a more viable opportunity for generating revenue. “The golf cart market is a good place for WiTricity to establish a presence,” he says. “It’s a market that is growing, and WiTricity can capitalize on that growth.”
### Conclusion
WiTricity’s relocation to Georgia marks a significant shift in the company’s strategy and focus. As the company continues to navigate the challenges of the wireless charging market, it will be important to monitor its progress and see if it can establish a successful presence in the smaller vehicle market.