ABB acquires Chinese EV charging provider Chargedot
ABB is to acquire a majority stake of 67 percent in Shanghai Chargedot New Energy Technology, a leading Chinese e-mobility solution provider.
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.
Chargedot is a natural fit for ABB, which as a global leader in sustainable transportation infrastructure, already offers solutions from grid distribution to charging points for cars and trucks, as well as for the electrification of ships, railways, trams, buses and cable cars.
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. ABB is partner of the FIA Formula E Championship, that serves as a global platform to test and develop e-mobility-relevant electrification and digitalization technologies, pushing the boundaries of e-mobility.
Furthermore ABB Robotics is the leading supplier of robot units and software to the assembly lines of Chinese EV manufacturers.
ABB has sold more than 11,000 DC fast-charging points across 76 countries worldwide and its comprehensive e-mobility portfolio spans EV charging technology and supporting energy distribution solutions.
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.