ABB E-mobility increases majority stake in Chinese EV charging provider Chargedot

By OEM Update Editorial February 3, 2022 12:50 pm IST

Transaction builds on ABB’s initial investment, increasing stake from 67 to 80 percent.

ABB recently announced it has increased its majority stake in Chinese electric vehicle (EV) charging provider, Chargedot Shanghai New Energy Technology Co., Ltd. (“Chargedot”) to 80 percent. ABB had previously acquired a 67 percent stake in Chargedot in March 2020. The additional investment is part of ABB E-mobility’s growth strategy and further strengthens ABB’s position in the rapidly growing Chinese e-mobility market. Financial terms of the transaction were not disclosed.

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