Swiss electronics company ABB has acquired a majority stake in Chargedot, a Chinese EV charging provider.
Chargedot supplies AC and DC charging stations, as well as an accompanying software platform. ABB offers services and products such as grid distribution and charging points.
Tarak Mehta, President of ABB’s Electrification business, said, “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 [shareholder] SAIC and other Chinese car manufacturers.”
Mao Chunhua, CEO of Chargedot, said, “Chargedot was one of the first high-tech enterprises in China to focus on new energy vehicle charging solutions. By joining with ABB, we will be positioned strongly to make the next big leap forward.”