click to enlarge Evatran chief executive Rebecca Hough.

Scott Elmquist

Evatran chief executive Rebecca Hough.

Tuesday, January 5, 2016

Richmond Wireless Car Recharging Firm Advances in China

Evatran has moved to the next phase of financing.

Posted By on Tue, Jan 5, 2016 at 5:19 PM

Richmond-based Evatran Group, Inc., which makes devices that recharge electric cars wirelessly, has moved into its second phase of an expansion with a prominent Chinese automotive parts maker.

The deal involves Zhejiang VIE Science and Technology Company (VIE), which will work with Evatran to make recharging devices for the fast-growing Chinese electric car market and overseas.

VIE is leading Evatran’s $10 million Series B raise so that it can expand its operations in China.

The Chinese firm went public on the Shenzhen Security Exchange in 2011. In 2014, it had sales of $1.2 billion.

China has serious problems with air pollution, making electric cars attractive in its vast potential market.

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