On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, announced its UNO 6 Ultra Compact NFC Contactless Reader had been chosen by UK-based CityEV, a leading provider of electric vehicle charging solutions, as the cashless payment solution for its Cityline 100 electric vehicle charging stations.
"OTI recognizes CityEV as a major player in the plug-in hybrid electric vehicle market and is happy to be CityEV's choice for its cashless payment solution," said Shlomi Cohen, OTI's CEO. "The Uno 6 has been neatly embedded into the Cityline 100 smart interface. We look forward to a prosperous future in the electric vehicle market with CityEV and its Cityline 100 system."
The CityEV™ ingenious charge point network is a new 'second generation' car charge network system, with the latest protocol version offering both local smart charging, where charging on multiple charge points is limited to a certain power limit and central smart charging which is managed by the central system.
The last four years have seen a remarkable surge in demand for electric vehicles in the UK. New registrations of plug-in cars increased from 3,500 in 2013 to almost 121,000 by the end of October 2017, NextGreenCar.com states.
The electric vehicle revolution is coming much faster than even some of the most bullish analysts expected. In late July, even the CEO of Royal Dutch Shell, one of the largest oil and gas companies in the world, said that he would buy an electric vehicle, acknowledging that the transition from the internal-combustion engine to the electric battery was inevitable.
On Track Innovations | http://www.otiglobal.com