ABB completed the acquisition of an additional stake in Chargedot.

ABB, a technology company, completed the acquisition of an additional 13% stake in Chargedot, an electric vehicle charging provider. Financial terms were not disclosed. “Since ABB’s acquisition in 2020 we have seen strong double-digit growth in the Chargedot business. ABB has helped deliver innovations in safe, smart and sustainable charging hardware and software solutions to the Chinese market, supporting leading companies such as SAIC, Xpeng and GAC Toyota. Looking ahead, Chinese demand for high-power charging solutions and export strategies for Chinese OEM’s are both showing significant growth. With this we see strong opportunities to leverage our global experience to further support our Chinese customers and increase market share,” Frank Muehlon, ABB E-mobility division President.