Mexican Media Brands
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
Share
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
-
Electric Trucks Emerging
Rudolph Diesel—who, incidentally, died mysteriously while traveling by a post office steamer on the English Channel in 1913—must be rolling in his grave.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
Report: Old-Line Carmakers Set to Sweep Past Tesla in EV Race
Tesla Inc. will retain its position as the world’s largest maker of electric cars next year but plunge to seventh behind well-established vehicle manufacturers by 2021, predicts PA Consulting Group.
