ABB has completed its acquisition of a majority stake in Chargedot Shanghai New Energy Technology.
The transaction was announced on 28 October.
Since its establishment in 2009, Shanghai-based Chargedot has made a contribution to the uptake of electric vehicles in China. The company supplies AC and DC charging stations, as well as the necessary software platform to a range of customers, which include EV manufacturers, EV charging network operators and real estate developers.
It has around 205 employees and its other shareholders include Shanghai SAIC Anyo Charging Technology, a subsidiary of SAIC.
The acquisition is expected to further strengthen ABB’s relationship with Chinese electric vehicle manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed for local requirements, as well as service offerings.