Local recharge technology in $70m US deal
Auckland boffins are in the money with an electrifying deal worth about $70 million for technology which allows electric cars to be charged without cables.
A joint-venture firm established by Auckland University has been bought by US firm Qualcomm after inventing the "Inductive Power Technology" device.
Cars simply drive over a pad, which transfers electricity to the vehicle.
In video demonstrations, the device sends the owner a message when the charging is complete.
Read full article via NZ Herald