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ABB Buys Provider of Electric Vehicle Chargers

Nov. 7, 2019
ABB recently announced plans to purchase a majority stake of Chargedot, a Chinese e-mobility solution provider.

ABB, Zurich, Switzerland, announced plans to acquire a majority stake of 67% percent in Shanghai Chargedot New Energy Technology Co., Ltd. (Chargedot), a Chinese e-mobility solution provider.

Since its establishment in 2009, Shanghai-based Chargedot has supplied AC and DC charging stations, as well as the software platform, to a range of customers that includes electric vehicle (EV) manufacturers, EV charging network operators and real estate developers. Chargedot has about 185 employees.

The press release said Chargedot is a natural fit for ABB because it already offers solutions from grid distribution to charging points for cars and trucks, as well as for the electrification of ships, railways, buses and cable cars.

The acquisition will strengthen ABB’s relationship with Chinese EV manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements.