ABB is to acquire 67% of e-mobility solution provider, Shanghai Chargedot New Energy Technology.
The transaction is expected to be completed in the coming months and ABB has the possibility to increase its stake further in the next three years.
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Chargedot supplies AC and DC charging stations, as well as the necessary software platform to a range of customers, which includes EV manufacturers, EV charging network operators and real estate developers. It has around 185 employees and its other shareholders among others include Shanghai SAIC Anyo Charging Technology, a subsidiary of SAIC.
ABB offers solutions from grid distribution to charging points for cars and trucks, as well as for the electrification of ships, railways, trams, buses and cable cars.
ABB Robotics is the leading supplier of robot units and software to assembly lines of Chinese EV manufacturers.
“This investment is a demonstration of ABB’s commitment to enabling sustainable mobility,” said ABB Electrification business president, Tarak Mehta.
“With China forging ahead in the development of a comprehensive e-mobility ecosystem, this acquisition will give ABB a significant role in delivering growth, working closely with SAIC and other leading Chinese car manufacturers.”
China has the largest fleet of electric vehicles worldwide at 2m, with consumers supported by a government-backed incentive scheme.
ABB’s e-mobility portfolio spans EV charging technology and supporting energy distribution solutions. ABB has sold more than 11,000 DC fast-charging points across 76 countries worldwide.
Within China, ABB has been working with BYD and Daimler since 2016, supplying its DC Wallbox units for charging Denza electric vehicles.
The company is also a supplier of DC fast charging solutions to electric vehicle manufacturers including NIO and to operators such as BP/ifuel 66.
