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ABB completes acquisition of Chargedot

Posted on 30 Apr 2020 and read 1103 times
ABB completes acquisition of ChargedotABB (www.new.abb.com) has completed its acquisition of a majority stake in Chargedot Shanghai New Energy Technology Co Ltd; the transaction was announced on 28 October 2019.

Since being established in 2009, Shanghai-based Chargedot has made a significant contribution to the up-take of electric vehicles in China.

The company supplies AC and DC charging stations (as well as the necessary software platform) to customers that include EV manufacturers, EV charging network operators and real-estate developers.

It has about 205 employees, and its other shareholders include Shanghai SAIC Anyo Charging Technology Co Ltd, which is a subsidiary of SAIC.

The acquisition is expected to further strengthen ABB’s relationship with leading Chinese electric-vehicle manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements, as well as service offerings.

ABB is a technology leader that is driving the digital transformation of industries.

With a history spanning more than 130 years, ABB has four customer-focused businesses: Electrification; Industrial Automation; Motion; and Robotics and Discrete Automation.

Its Power Grids business is due to be ‘divested’ to Hitachi this year.