ABB buys Chinese EV charging provider Chargedot
November 14, 2019
Swiss-Swedish power and automation group ABB is acquiring 67 percent of Chinese e-mobility specialist Chargedot, which supplies EV charging stations and software in the Chinese market. The move will make ABB a major supplier to a number of leading Chinese car makers, and a partner of SAIC, which is also a major shareholder in Chargedot.
In a statement, ABB said that Chargedot is "a natural fit" for ABB as it 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 company said that 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 already a major 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.
ABB e-mobility portfolio spans EV charging technology and supporting energy distribution solutions, and the company 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.