ABB deployed already more than 11,000 DC fast chargers for electric cars, buses and trucks.

ABB, one of the most known DC fast charging supplier for electric cars, announced an acquisition of Chargedot, one of the major Chinese charging infrastructure providers.

The deal is for 67% stake with an option for more, open for the next three years. Financial details were not revealed.

"Since its establishment in 2009, Shanghai-based Chargedot has made a significant contribution to the uptake of electric vehicles 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. It has approximately 185 employees and its other shareholders among others include Shanghai SAIC Anyo Charging Technology Co., Ltd., a subsidiary of SAIC."

ABB clearly would like to expand its EV charging business in China, as sales in Europe are probably highly limited by fierce competition. For example, Tritium won the bulk of the orders from IONITY.

With more than 11,000 DC fast chargers deployed globally and Chargedot on-board, ABB might be able to attract more partners among manufacturers, like SAIC - mentioned in the press release several times.

Other brands for which ABB supplies chargers in China are Denza (Daimler-BYD joint venture) and NIO.

"Chargedot is a natural fit for ABB, which as a global leader in sustainable transportation infrastructure, already offers solutions from grid distribution to charging points for cars and trucks, as well as for the electrification of ships, railways, trams, buses and cable cars. The acquisition will strengthen ABB’s relationship with leading Chinese electric vehicle manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements. ABB Robotics is the leading supplier of robot units and software to the assembly lines of Chinese EV manufacturers."

Tarak Mehta, President of ABB's Electrification business said:

“This investment is a further demonstration of ABB’s commitment to enabling sustainable mobility. With China forging ahead in the development of a comprehensive e-mobility ecosystem, this acquisition will give ABB a significant role in delivering growth, working closely with SAIC and other leading Chinese car manufacturers.”

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ABB to strengthen e-mobility portfolio with acquisition of Chinese EV charging provider Chargedot

ZURICH, SWITZERLAND, OCTOBER 28, 2019

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 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. It has approximately 185 employees and its other shareholders among others include Shanghai SAIC Anyo Charging Technology Co., Ltd., a subsidiary of SAIC.

Chargedot is a natural fit for ABB, which as a global leader in sustainable transportation infrastructure, already offers solutions from grid distribution to charging points for cars and trucks, as well as for the electrification of ships, railways, trams, buses and cable cars. The acquisition will strengthen ABB’s relationship with leading Chinese electric vehicle manufacturers and broaden the company’s e-mobility portfolio with hardware and software developed specifically for local requirements. ABB Robotics is the leading supplier of robot units and software to the assembly lines of Chinese EV manufacturers.

“This investment is a further demonstration of ABB’s commitment to enabling sustainable mobility,” said Tarak Mehta, President of ABB's Electrification business. “With China forging ahead in the development of a comprehensive e-mobility ecosystem, this acquisition will give ABB a significant role in delivering growth, working closely with SAIC and other leading Chinese car manufacturers.”

“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,” said Mao Chunhua, CEO of Chargedot.

The outlook for the global e-mobility infrastructure market is growing. Grand View Research, Inc. forecasts the Asia Pacific region is expected to show the highest growth in this market. China already boasts the largest fleet of electric vehicles worldwide at 2 million, with consumers supported by a government-backed incentive scheme.

ABB has unrivalled expertise in delivering solutions for safe, smart and sustainable electrification. Its partnership with the ABB FIA Formula E Championship serves as a global platform to test and develop e-mobility-relevant electrification and digitalization technologies, pushing the boundaries of e-mobility for a noise and emission free future. There will be an ABB Formula E race taking place in Sanya, China, on March 21, 2020.

Key to achieving this vision, ABB’s comprehensive e-mobility portfolio spans EV charging technology and supporting energy distribution solutions. ABB has sold more than 11,000 DC fast-charging points across 76 countries worldwide.

Within China, ABB has been working with BYD and Daimler since 2016, supplying its DC Wallbox units for charging Denza electric vehicles. The company is also a supplier of DC fast charging solutions to electric vehicle manufacturers including NIO and to operators such as BP/ifuel 66.