ABB is well known in the EV space for their ultra-fast chargers, along with their high-profile partnership with the FormulaE championship. The company has just announced it’s making moves in the acquisition space, taking a majority stake (67%) in Shanghai-based Chargedot.
Most of us have never heard of Chargedot, but they are a leading Chinese e-mobility solution provider. Founded back in 2009, 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.
The company has around 185 employees and is a natural fit for ABB, given the crossover in product portfolio and ambition to help build recharging infrastructure for the future of transportation.
The electrification reaches much further than simply cars, with solutions ranging from grid distribution to the electrification of ships, railways, trams, buses and cable cars.
This 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.
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.”Tarak Mehta, President of ABB’s Electrification business.
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.
“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.”Mao Chunhua, CEO of Chargedot.
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.