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Volvo’s corporate venture capital arm Volvo Cars Tech Fund has invested in power electronics startup Leadrive.

There were no details on the value of the investment.

The company said the move reflected its shift in focus for technology investments and R&D spending to e-motors, inverters, and electric drivetrain optimisation.

Shanghai-based Leadrive, founded in 2017, specialises in power electronics and control units for electric cars, using silicon carbide (SiC) technology.

“Leadrive’s technology demonstrates a lot of potential for the development of more efficient electric drivetrains,” said Alexander Petrofski, CEO of the Volvo Cars Tech Fund.

The investment is part of Volvo’s strategy to gain “control over (its) electrification technology stack” to provide electric cars with a longer range and faster charging.

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By GlobalData