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ABB E-mobility Announces That It Has Increased Its Majority Stake In Chinese EV Charging Provider Firm, Chargedot
ABB has announced that 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 discl...