Announced
Completed
Financials
Tags
Completed
Electronic Components and Equipment
Private
Friendly
Majority
China
Acquisition
Single Bidder
e-mobility solution
Synopsis
ABB, a multinational technology company, completed the acquisition of 67% stake in Shanghai Chargedot New Energy Technology, a Chinese e-mobility solution provider. Financial terms were not disclosed. “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, ABB's President of Electrification business.
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