1st Apr 2016 11:41
LONDON (Alliance News) - Engineering and environmental consultancy Ricardo PLC on Friday signed a licence agreement with US wireless technology company Qualcomm Inc.
Under the agreement, Ricardo has licensed Qualcomm Halo to commercialise wireless electric vehicle charging systems for plug-in hybrid and electric vehicles.
Ricardo will earn royalties under the agreement, but no specific financial details were disclosed.
"The increasing electrification of transportation is important in enabling society to reduce its reliance upon CO2 emitting fossil fuels while also improving the quality of air in our towns and cities," said Ricardo Chief Executive Dave Shemmans.
Ricardo shares were down 0.5% to 833.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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