ABB Acquires Chinese EV Charging Specialist
Swiss engineering and robotics giant ABB Group has agreed to purchase 67% of Chargedot New Energy Technology Co., which supplies charging systems for electric vehicles.
#hybrid #robotics
Swiss engineering and robotics giant ABB Group has agreed to purchase 67% of Chargedot New Energy Technology Co., which supplies charging systems for electric vehicles.
Terms of the deal weren’t disclosed. ABB says it may increase its stake in the Chinese company within the next three years.
Formed in 2009, Shanghai-based Chargedot supplies AC and DC charging units and related software to charging station operators, carmakers, real estate owners and other businesses. A unit of Chinese carmaker SAIC Motor Corp. is a minority shareholder in Chargedot.
ABB says the acquisition complements its own charging system and vehicle electrification technologies. The company has sold more than 11,000 DC fast-charging devices worldwide. In China, it works with Nio and the BYD-Daimler joint venture that markets EVs under the Denza brand.
Spurred by government-backed incentives, China has more than 2 million EVs on the road that are supported by 466,000 charging points across the country. As many as 4.8 million charging points are forecast to be in operation in China by the end of 2021.
RELATED CONTENT
-
The U.S. Military Finds New Roads: Fuel Cell Powered Pickups
While it seems that fuel efficiency as related to the U.S. federal government is all about light duty vehicles, that’s far from being the case.
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
-
48-volt Hits Production
“In 2025, approximately one in five new vehicles across the world will be equipped with a 48-volt drive,” Juergen Wiesenberger, head of Hybrid Electric Vehicles at Continental North America said last week.