Charging Robotics, A Subsidiary Of Medigus, Secures Israel Innovation Authority Funding For Wireless EV Parking Chargers
Portfolio Pulse from Akanksha Bakshi
Medigus Ltd. (NASDAQ:MDGS) has initiated a wireless EV charging pilot through its subsidiary, Charging Robotics Ltd., which is operating under Fuel Doctor Holdings, Inc. (OTC:FDOC). The pilot, supported by funding from the Israel Innovation Authority, aims to address the need for automated parking systems with efficient EV solutions. The project began in August 2023 with an Israeli car park provider and received approximately $445,000 in funding. The wireless charging system is designed for automated parking and boasts over 93% efficiency. The Automated Parking System market is expected to grow to $5.2 billion by 2032. Medigus shares (MDGS) were trading lower by 1.45% at $3.77.
December 26, 2023 | 4:08 pm
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NEUTRAL IMPACT
Charging Robotics, operating under Fuel Doctor Holdings, is conducting a wireless EV charging pilot, which could enhance FDOC's positioning in the EV market.
Fuel Doctor Holdings, through its operation of Charging Robotics, is involved in the pilot project, which could be beneficial for its market position. However, the direct short-term impact on the stock is uncertain, as the project is in its early stages and the financial implications are not yet clear.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
Medigus has started a wireless EV charging pilot through Charging Robotics, with support from the Israel Innovation Authority. The project could position Medigus in the growing EV infrastructure market.
The news of the pilot project is positive, showing innovation and growth potential in the EV market. However, the current impact on the stock is negative, as reflected by the 1.45% drop in share price. The short-term impact is neutral as the market may need time to assess the project's potential success and its effect on Medigus' financials.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80