Volkswagen Gives A Sneak Peek Of Its Autonomous Electric Vehicle Charging Robot - Volkswagen (OTC:VWAGY)

German automaker Volkswagen AG VWAGY unveiled a prototype of its fully automatic mobile charging robot on Tuesday.

What Happened: The prototype mechanism is capable of charging electric vehicles in restricted and confined spaces like underground garages.

Volkswagen Group Components, the unit that is developing the robot, is also working to build an entire family of DC mechanisms with flexible and quick charging abilities. These charging systems could be out in the market early next year.

The robot does not require human intervention and is programmed to move automatically towards a vehicle, connect the charging plug as well as decouple from the vehicle once charged. The prototype is also capable of moving mobile energy storage devices to charge multiple vehicles at the same time.

“Our developments do not just focus on customers’ needs and the technical prerequisites of electric vehicles," Volkswagen Group Components CEO Thomas Schmall said. "They also consider the economic possibilities they offer potential partners.”

Why Does It Matter: Volkwagen said the flexible solution to quick charging could be out sometime early next year and the prototype could see additional developmental upgrades over time.

The mobile charging robot will enable parking site operators to install an EV charging system without incurring massive capital construction costs.

“We are developing solutions to help avoid costly stand-alone measures. The mobile charging robot and our flexible quick-charging station are just two of these solutions,” Schmall said.

Price Action: VWAGY stock closed Monday at $20.83, 0.019% higher.

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