Although the company claims it has little interest in pursuing electric vehicles, Toyota (NYSE:TM) stepped away from the fuel cell this week, just for a moment, to talk up its latest venture – cable-free electric car charging.
In an attempt to help electric car owners charge their vehicles when away from a wired charging station, the Japanese automaker announced that it’s testing a new system that allows drivers to charge their vehicles using resonance recharging.
Resonance recharging essentially involves using magnetic resonance that doesn’t need be directly attached to a battery. The vehicle just needs to sit above it, like in a parking lot, for instance.
An early test is being conducted in Japan. Nissan has also been pursuing a similar technology, and in South Korea, there is a stretch of road where two buses are regularly charged this way. That system went online last year.
Although I still believe Toyota will do little to pursue electric vehicles in the near-term, this recent announcement indicates that the company is not completely abandoning electric cars for fuel cells. And the idea of wireless charging stations is rapidly becoming less of a pipe dream.
Sure, the technology is still new, but so way hybrid technology back in the 1990s. And look where Toyota is today with that. The Prius is world’s best-selling hybrid. To date, more than 3 million have been sold.
No Cables Needed for this New Electric Car Charging System originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.