BREAKING NEWS

ABB buys majority stake in Chinese electric vehicle charging company

Euronews logo
Text size Aa Aa

ZURICH (Reuters) – ABB <ABBN.S> has bought a majority stake in Shanghai Chargedot New Energy Technology Co. Ltd, a Chinese electric vehicle charging company, the Swiss engineering company said on Monday.

Chargedot, which employs 185 people, makes charging stations and software platforms to enable vehicles to be charged with electricity.

ABB, which has installed an electric vehicle charging network in Singapore among other projects, has bought a 67% stake in Chargedot with an option to increase its stake. The price of the acquisition was not disclosed.

(Reporting by John Revill, editing by Riham Alkousaa)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.