ABB announced that it has increased its majority stake in Chinese electric vehicle charging provider, Chargedot Shanghai New Energy Technology Co Ltd to 80%. ABB had previously acquired a 67% 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 disclosed.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.China recorded the highest number of EV sales globally in 2021 for the seventh consecutive year, with more than 3.5 million electric vehicles sold; a 1.6 fold increase on 20201.
ABB announced that it has increased its majority stake in Chinese electric vehicle charging provider, Chargedot Shanghai New Energy Technology Co Ltd to 80%. ABB had previously acquired a 67% 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 disclosed.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.China recorded the highest number of EV sales globally in 2021 for the seventh consecutive year, with more than 3.5 million electric vehicles sold; a 1.6 fold increase on 20201.
