ABB is to acquire a majority stake of 67 percent in Shanghai Chargedot New Energy Technology Co., Ltd. (“Chargedot”). 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.
The company supplies AC and DC charging stations, as well as the necessary software platform to a range of customers that includes EV manufacturers, EV charging network operators, and real estate developers.
The acquisition will 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.
Its partnership with the ABB FIA Formula E Championship serves as a global platform to test and develop e-mobility-relevant electrification and digitalization technologies.
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.