Swiss-Swedish multinational ABB has completed its acquisition of a majority stake in Chinese e-mobility solution provider Chargedot Shanghai New Energy Technology, which provides AC and DC charging stations and the software platform to EV manufacturers, charging network operators, and real estate developers.
ABB announced the pending Chargedot acquisition back in late-October, a move which ABB hopes will strengthen its relationship with leading Chinese EV manufacturers as well as helping to broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements.
ABB already offers solutions from grid distribution to charging points for electric vehicles as well as for the electrification of ships, railways, trams, buses, and cable cars. Acquiring Chargedot and its 205 employees will help broaden the company’s already expansive geographic footprint.
“This investment is a further demonstration of ABB’s commitment to enabling sustainable mobility,” said Tarak Mehta, President of ABB’s Electrification business, speaking in October.
“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.”
“Chargedot was one of the first high-tech enterprises in China to focus on new energy vehicle charging solutions,” said Mao Chunhua, CEO of Chargedot. “By joining with ABB, we will be positioned strongly to make the next big leap forward.”