ABB to acquire 67% in Chinese EV charging provider Chargedot

ABB is to acquire a majority stake of 67 percent in Shanghai Chargedot New Energy Technology Co., Ltd. (Chargedot), 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.

Since its establishment in 2009, Shanghai-based Chargedot has made a significant contribution to the uptake of electric vehicles (EV) in China. 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.