Richmond Wireless Car Recharging Firm Advances in China

Evatran has moved to the next phase of financing.

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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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