ABB invests some serious money in the expansion of manufacturing capacity, as well as in R&D.
ABB announced the start of construction of its new 16,000 square meter manufacturing facility of EV chargers in San Giovanni Valdarno, Italy, which should be ready by the end of 2021 "to meet global demand".
The new $30 million site will serve as a global Center of Excellence and production site for fast chargers, which seems to be selling better and better. So far ABB has sold more than 14,000 DC fast chargers for EVs.
"The new plant will produce ABB's entire portfolio of direct current (DC) electric vehicle battery chargers, from domestic systems to systems for installation in public areas and those dedicated to urban public transport. It will also help to further support ABB’s growth and innovation in the e-mobility sector."
The new investments indicate that the EV market is expanding quickly.
Additionally, the company is investing $10 million in a new global e-mobility headquarters and Research and Development (R&D) center built on the TU Delft Campus, Heertjeslaan, Netherlands. This site should be ready later this year.