ABB Acquires 67 Per Cent Stake in China-Based Chargedot

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  • ABB is already working with Build Your Dreams (BYD) and Daimler in China on electric vehicle charging
  • China has the largest fleet of electric vehicles worldwide at two million

Zurich- headquartered engineering company ABB has bought a 67 per cent stake in Shanghai-based electric vehicle charging company Chargedot. The price of the acquisition has been disclosed yet. This acquisition intends to increase ABB’s presence in Chinese electric vehicle market and strengthen the company’s relations with makers of electrically powered trucks and cars.

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.”

ABB working with BYD and Daimler already on EV charging 

ABB has also installed an electric vehicle charging network in Singapore and across the Netherlands. ABB has been working with BYD and Daimler in China on electric vehicle charging and Chargedot has been working with car manufacturer Shanghai Automotive Industry Corporation (SAIC). Currently, Chargebot employs 185 people.

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According to Grand View Research, e-mobility infrastructure in Asia Pacific region is expected to show the highest growth. China has the largest fleet of electric vehicles worldwide at two million, with consumers supported by a government-backed incentive scheme.

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