Technology provider ABB has completed the acquisition of the Chinese electric vehicle charging point provider Chargedot Shanghai New Energy Technology. The transaction was announced late October, 2019.
Chargedot was originally established in 2009 in Shanghai and supplies AC and DC charging stations for electric vehicles. The company also supplies the necessary software platform and has significantly contributed to the uptake of electric vehicles in China.
Today, the company has approximately 205 employees. Other shareholders include Shanghai SAIC Anyo Chaging Technology Co., Ltd., a subsidiary of SAIC.
The acquisition is expected to further 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 as well as service offerings.