SEALSQ enhances security of Electric Vehicle (EV) charging stations through a comprehensive cybersecurity solution developed in collaboration with WISeKey
December 07 2023 - 9:05AM
SEALSQ enhances security of Electric
Vehicle (EV) charging stations through a comprehensive
cybersecurity solution developed in collaboration with
WISeKeyFor more information visit:
https://www.sealsq.com/applications/automotive
GENEVA – December 7, 2023 – WISeKey
International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a
global leader in cybersecurity, digital identity, and Internet of
Things (IoT) solutions, operating as a holding company, today
announced that its subsidiary SEALSQ Corp (NASDAQ: LAES) (“SEALSQ”)
has developed a comprehensive cybersecurity solution to enhance the
security of Electric Vehicle (EV) charging stations. SEALSQ’s
innovative technology addresses a complex cybersecurity landscape
associated with the growing infrastructure of EV charging stations
and tackles known vulnerabilities that could compromise the
integrity of the EV charging process.
EV charging stations present a unique set of
cybersecurity risks due to their increasing connectivity and
importance in the energy infrastructure. Here are the main
cybersecurity risks associated with EV charging stations:
- Unauthorized Access: If an EV
charging station lacks proper authentication mechanisms,
cybercriminals could gain unauthorized access. This could allow
them to manipulate charging rates or even cut off power to the
chargers.
- Data Theft: EV charging stations often collect personal data,
including payment information and user identity details. Cyber
attackers could target this data for identity theft or financial
fraud.
- Denial of Service Attacks: A cyberattack could disrupt the
service of EV charging stations, leading to denial of service. This
type of attack could be particularly disruptive if it targets a
network of chargers, causing widespread impact.
- Manipulation of Charging Processes: If attackers manage to
control the charging process, they could cause physical damage to
the battery of the EV by, for example, overcharging it or
manipulating the charging speed.
- Firmware Vulnerabilities: Like any connected device, if the
firmware of an EV charger is not regularly updated, it may contain
vulnerabilities that hackers can exploit to take control of the
charger or even affect the grid to which it is connected.
- Supply Chain Attacks: Attackers could compromise the software
or hardware of EV chargers during manufacturing or delivery. This
could lead to widespread issues across multiple charging stations
once they are deployed.
- Energy Theft: Cybercriminals could potentially alter the
reported energy usage, resulting in energy theft and financial
losses for service providers.
- Impact on the Power Grid: Since EV chargers draw from the local
power grid, a coordinated attack on EV charging infrastructure
could potentially disrupt the larger power grid, especially as the
number of EVs on the road increases.
Here's how SEALSQ is contributing to secure and seamless
EV charging:
- Secure Element Integration: The use of VAULTIC
secure elements in EV charging stations is pivotal. These hardware
components are provisioned with trusted identities and are capable
of secure cryptographic operations, ensuring that each charging
station is a node of trust within the network.
- Managed Public Key Infrastructure (PKI):
SEALSQ utilizes WISeKey's INeS Managed PKI as-a-Service portal to
manage the digital certificates and cryptographic keys necessary
for secure authentication and data encryption. This ensures that
only authorized users and vehicles can access the charging
services, and that all data exchanged is encrypted and protected
against eavesdropping or tampering.
- End-to-End Encryption: By encrypting data
transmitted between the EV, the charging station, and the network
and service providers, SEALSQ ensures the confidentiality and
integrity of sensitive information such as user credentials,
payment details, and energy consumption data.
- Automated and Secure Authentication: The
system enables a secure and automated authentication process for
users, which streamlines the charging experience by removing the
need to manually enter credentials, thereby reducing the risk of
identity theft.
- Regulation Compliance: SEALSQ's solution
adheres to stringent cybersecurity regulations, offering customers
the assurance that their implementation meets legal and industry
standards for data protection and privacy.
- Reduced Complexity and Time-to-Market: By
acting as a single security provider, SEALSQ simplifies the
deployment of secure EV charging infrastructures for charge point
operators, enabling them to bring secure stations to market more
quickly and efficiently.
- Protection Against Cyber Threats: The solution
mitigates various cyber threats, including disruption of
electricity flow, identity theft, unauthorized access, data
alteration, and malware intrusion, by ensuring that the charging
process is secure from end to end.
- User-Friendly Experience: With security
seamlessly integrated into the charging process, end-users benefit
from a frictionless experience that does not sacrifice security for
convenience.
The EV Charging market is experiencing significant growth in the
coming years. Globally, the market was valued at $19.67 billion in
2022 and is projected to expand at a CAGR of 25.5% from 2023 to
2030. In the United States, the market size was valued at $3.15
billion in 2022 and is expected to grow at a CAGR of 29.1% from
2023 to 2030. In Asia-Pacific, the market is heavily influenced by
the growing number of electric cars and buses, especially in China,
which is the largest market for EVs. Various government initiatives
and investments in this region are expected to continue driving the
demand for EV charging stations.
The growing demand and adoption of EVs on a global basis
requires the quick expansion of the EV charging infrastructure. As
this infrastructure grows, so does the potential for companies like
SEALSQ, which provide security solutions to protect these critical
assets from cybersecurity threats.
SEALSQ's security solution for EV charging stations is a
forward-thinking approach that leverages the robustness of PKI and
the trustworthiness of secure hardware elements. By creating a
secure chain of trust and facilitating encrypted communications,
SEALSQ is setting a standard for the industry that not only
protects against present cybersecurity threats but also anticipates
the future needs of an increasingly digital and connected
automotive ecosystem.About SEALSQ
SEALSQ Corp (NASDAQ: LAES) is a wholly owned
subsidiary of the WISeKey Group that focuses on developing and
selling Semiconductors, PKI and Post-Quantum technology hardware
and software products. Our Post-Quantum solutions include
Post-Quantum microchips and devices that can be used in a variety
of applications, from Multi-Factor Authentication devices, Home
Automation, and IT Network Infrastructure, to Automotive,
Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to
cryptographic methods that are secure against an attack by a
quantum computer. As quantum computers become more powerful, they
may be able to break many of the cryptographic methods that are
currently used to protect sensitive information, such as RSA and
Elliptic Curve Cryptography (ECC). PQC aims to develop new
cryptographic methods that are secure against quantum attacks. For
more information, visit www.sealsq.com
About WISeKey
WISeKey International Holding Ltd (“WISeKey”,
SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity,
digital identity, and IoT solutions platform. It operates as a
Swiss-based holding company through several operational
subsidiaries, each dedicated to specific aspects of its technology
portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES),
which focuses on semiconductors, PKI, and post-quantum technology
products, (ii) WISeKey SA which specializes in RoT and PKI
solutions for secure authentication and identification in IoT,
Blockchain, and AI, (iii) WISeSat AG which focuses on space
technology for secure satellite communication, specifically for IoT
applications, and (iv) WISe.ART Corp which focuses on trusted
blockchain NFTs and operates the WISe.ART marketplace for secure
NFT transactions.
Each subsidiary contributes to WISeKey’s mission
of securing the internet while focusing on their respective areas
of research and expertise. Their technologies seamlessly integrate
into the comprehensive WISeKey platform. WISeKey secures digital
identity ecosystems for individuals and objects using Blockchain,
AI, and IoT technologies. With over 1.6 billion microchips deployed
across various IoT sectors, WISeKey plays a vital role in securing
the Internet of Everything. The company’s semiconductors generate
valuable Big Data that, when analyzed with AI, enable predictive
equipment failure prevention. Trusted by the OISTE/WISeKey
cryptographic Root of Trust, WISeKey provides secure authentication
and identification for IoT, Blockchain, and AI applications. The
WISeKey Root of Trust ensures the integrity of online transactions
between objects and people. For more information on WISeKey’s
strategic direction and its subsidiary companies, please visit
www.wisekey.com.
Press and investor contacts:WISeKey
International Holding LtdCarlos MoreiraChairman & CEOTel: +41
22 594 3000 / info@wisekey.com
WISeKey Investor Relations (US)The Equity Group Inc.Lena
CatiTel: +1 212 836-9611 / lcati@equityny.comKatie MurphyTel: +1
212 836-9612 / kmurphy@equityny.com
Disclaimer:
This communication expressly or implicitly
contains certain forward-looking statements concerning WISeKey
International Holding Ltd and its business. Such statements involve
certain known and unknown risks, uncertainties and other factors,
which could cause the actual results, financial condition,
performance or achievements of WISeKey International Holding Ltd to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. WISeKey International Holding Ltd is providing this
communication as of this date and does not undertake to update any
forward-looking statements contained herein as a result of new
information, future events or otherwise.
This press release does not constitute an offer
to sell, or a solicitation of an offer to buy, any securities, and
it does not constitute an offering prospectus within the meaning of
the Swiss Financial Services Act (“FinSA”), the FInSa’s predecessor
legislation or advertising within the meaning of the FinSA.
Investors must rely on their own evaluation of WISeKey and its
securities, including the merits and risks involved. Nothing
contained herein is, or shall be relied on as, a promise or
representation as to the future performance of WISeKey.
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