ZURICH (dpa-AFX) - ABB said that it agreed to acquire a majority stake of 67 percent in Shanghai Chargedot New Energy Technology Co., Ltd., Chinese e-mobility solution provider. ABB has the possibility to increase its stake further in the next three years.
The transaction is expected to be completed in the coming months.
Shanghai-based Chargedot has made a significant contribution to the uptake of electric vehicles in China, since its establishment in 2009. 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.
Chargedot has about 185 employees and its other shareholders among others include Shanghai SAIC Anyo Charging Technology Co., Ltd., a subsidiary of SAIC.
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