Qualcomm (QCOM) has taken wireless charging for electric vehicles and simplified it to the point where the driver merely navigates a stretch of road embedded with a charger.

Qualcomm's Halo dynamic electric vehicle charging (DEVC) system can charge electric vehicles as they drive over the charger.

The Halo DEVC is still in its very early stages of production, however recent tests of the system demonstrated that cars can be charged at up to 20 kW at highway speeds and that two cars can charge simultaneously.

The mechanism responsible for the charging is called the FABRIC, standing for feasibility analysis and development of on-road charging solutions for future electric vehicles.

It remains unlikely, however, then an entire American highway would be paved with FABRIC from coast-to-coast, rather there is more likely to be strips of FABRIC strategically placed in urban areas where autonomous electric vehicles are in operation, according to TechCrunch.

Shares of Qualcomm fell slightly to $56.93 on Thursday. 

What's Hot on TheStreet

Beware Tesla fanboys: Tesla (TSLA) burning money, but shareholders are the likely ones to blister and feel the pain. The standard 90-day corporate equity lockup period for Tesla, following its $402.5 million stock sale of March 16, ends Thursday TheStreet reports. As a result, Tesla will be free to conduct another stock offering as soon as Thursday, which is a real possibility given the electric car company's debt situation, partly due to its Solar City investment, and need for additional cash. Any new issuance the company may seek would likely need to take place before July, which is when Tesla issues its quarterly report on car sales. Alternatively, an offering could come in late August after Tesla issues its quarterly financial report.

Shares could start to come under pressure.

Mining stocks get whipped: Global mining stocks found themselves in a hole Thursday TheStreet reports, after South Africa's government said that at least 30% of domestic mining assets should be black-owned even if previous black owners sell their stakes. South African-exposed mining companies fell sharply in the wake of the announcement. London-listed Anglo American plc (AAUKF) tumbled 4.4% to 1,013 pence ($23.87) a share, South32 Ltd fell 4% to 158 pence, BHP Billiton plc (BHP) was down 2% to 1,155 pence, Rio Tinto (RIO) fell 2% to 3,079 pence and Glencore plc (GLNCY) fell 2.6% to 279.2 pence. South African gold producers were hit even harder. Sibanye Gold Ltd. (SBGLF) plummeted 6.7% to 1,562 South African rand ($121.38) and AngloGold Ashanti Ltd. (AU) fell 4.8% to 14,015 rand.

Amazon eyes a new prize: Amazon (AMZN) may be preparing a deal to buy Slack Technologies in a deal that could value the messaging startup group at more than $9 billion, TheStreet points out. With Microsoft's (MSFT) deal for LinkedIn being well-received, this deal seems logical for an Amazon that is aggressively expanding into the cloud.

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