ABB Completes Acquisition of Chinese EV Charging Provider Chargedot
ABB has completed its acquisition of a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd. (“Chargedot”). The transaction was announced on October 28, 2019.
Since its establishment in 2009, Shanghai-based Chargedot has made a significant contribution to the uptake of electric vehicles in China. The company supplies AC and DC charging stations, as well as the necessary software platform to a range of customers that includes EV manufacturers, EV charging network operators and real estate developers. It has approximately 205 employees and its other shareholders include Shanghai SAIC Anyo Charging 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.
ABB (ABBN: SIX Swiss Ex) is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four, customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability™ digital platform. ABB's Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 144,000 employees. www.abb.com
Important notice about forward-looking information
This press release contains forward-looking statements relating to the acquisition of Chargedot by ABB. Such forward-looking statements can be identified by words such as expects, and other similar terms. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the expected benefits of the acquisition will be realized. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect ABB's business, particularly those identified in the cautionary factors discussion in ABB's Annual Report on Form 20-F for the year ended December 31, 2019. ABB undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For more information please contact:
Phone: +41 43 317 71 11
Phone: +41 43 317 71 11
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Games Industry Unites to Promote World Health Organization Messages Against COVID-19; Launch #PlayApartTogether Campaign29.3.2020 23:10:00 EEST | Press release
Zynga (NASDAQ:ZNGA): This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200328005018/en/ Games Industry Unites to Promote World Health Organization Messages Against COVID-19; Launch #PlayApartTogether Campaign WHAT Today, the global and far-reaching games industry agreed to disseminate key messages from the World Health Organization to help slow the spread of COVID-19. To promote these messages, 18 game industry leaders in the interactive entertainment space have launched #PlayApartTogether, an initiative that encourages their vast network of users to follow the WHO’s health guidelines—including physical distancing, hand hygiene, respiratory etiquette and other powerful preventive actions people can take to fight COVID-19. By bringing special events, exclusives, activities, rewards and inspiration to some of the most popular games in the world, #PlayApartTogether encourages users to adopt best practices for the sake of their own
Jack Ma Foundation and Alibaba Foundation Donate to Seven More Countries in Asia to Fight COVID-1929.3.2020 07:58:00 EEST | Press release
The Jack Ma Foundation and the Alibaba Foundation today announced donations of essential medical supplies to seven more countries, namely Azerbaijan, Bhutan, India, Kazakhstan, Kyrgyzstan, Uzbekistan and Vietnam. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200328005024/en/ An India bound flight loaded with the first batch of medical supplies donated by the Jack Ma Foundation and Alibaba Foundation departed Shanghai, China yesterday. The donations arrived at New Delhi's Indira Gandhi International Airport last night and were received by the Indian Red Cross Society which would help distribute the supplies across the country. The supplies are part of the donation pledged to seven more countries announced today by the two foundations, namely Azerbaijan, Bhutan, India, Kazakhstan, Kyrgyzstan, Uzbekistan and Vietnam. (Photo: Business Wire) Collectively, these seven countries will receive a total of 1.7 million face masks, 165,
P&G Joins Forces with the Red Cross and Red Crescent Network to Provide Emergency Relief and Serve European Communities During COVID-19 Pandemic27.3.2020 17:14:00 EET | Press release
Today the Procter & Gamble Company (NYSE:PG) announced donations totalling $10 million USD in personal health and hygiene, household products, sanitizers and financial support to help people in need, including families, elderly citizens and health professionals, enabling access to everyday essentials. As part of this effort, P&G is donating $1 million to support the International Federation of Red Cross and Red Crescent Societies’ (IFRC) COVID-19 appeal, as well as individual European Red Cross Red Crescent national societies’ efforts, to improve the lives of Europe’s vulnerable people across the continent during these challenging times. Since the onset of the outbreak, P&G has been working with long-standing partner organizations to understand how to best support communities, relief agencies and those impacted by this global emergency. Today, we are taking three immediate actions to support urgent public needs. Supporting vital health care services: We will donate an initial one milli
Diligent Offers Seamless Video Conferencing Access Across All Board Management Platforms to Ensure Secure, Virtual Board Meetings as the Workforce Shifts Remote27.3.2020 17:00:00 EET | Press release
Diligent announced today a new, more secure approach to video conferencing across its board management applications – including Diligent Boards for enterprise, BoardEffect for nonprofits, and Community by Diligent for schools and local government – as board meetings and sensitive leadership discussions shift to a remote setting due to the COVID-19 pandemic and in preparation for the future of work. Directors and executives can join confidential virtual meetings with one click from within Diligent’s suite of secure board applications – mitigating the risk associated with sharing meeting invite links to unsecure devices on home networks and personal email accounts that can easily be intercepted. Access to links to virtual meetings within Diligent’s platforms includes leading video applications like Zoom, WebEx, and Go-To-Meeting. This update comes as organizations increase the frequency of confidential board and committee meetings to manage the COVID-19 crisis, in addition to preparing f
Teleroute Opens Its Freight Exchange Platform to Help Transport Companies During Current Crisis27.3.2020 15:05:00 EET | Press release
In response to the coronavirus crisis, Teleroute invites transport and logistics companies to join its community free of charge till the end of June. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200327005212/en/ (Photo: Alpega Group) In normal times, more than 200,000 daily freight and vehicle offers are posted on Teleroute. However, the COVID-19 pandemic has led to a drastic increase in the volume of goods required by sectors like retail and pharma. All of this is putting the response capacity of the transport and logistics sector, whose role is key to the management of this crisis, to the test. For this reason, the Teleroute Freight Exchange, part of the Alpega Group, wants to help alleviate the situation by offering free access to all transport and logistics companies that wish to join its platform, till the end of June and without any contractual obligation to prolong. About this initiative, Fabrice Douteaud, Chief Ope
DeltaTrak Announces New Non-Contact Forehead Infrared Thermometer to Aid in Coronavirus Prevention27.3.2020 15:00:00 EET | Press release
DeltaTrak®, a leading innovator of cold chain management and temperature monitoring solutions, announces the immediate availability of the new Model 15004 Non-Contact Forehead Infrared Thermometer that serves as a valuable solution in the fight against the Coronavirus. One of the first steps in preventing cross contamination is to measure and screen personnel that may have a fever, which is one of the main symptoms of COVID-19. The need to screen individuals that work together in large workforce environments is imperative to reduce the risk of spreading the infection. The new FDA and CE approved Forehead Infrared Thermometer provides instant readings without necessary contact making it an ideal COVID-19 risk prevention solution. "With so much concern about health and safety at this time, it was important that we provided a solution that can be used to quickly and safely measure body temperature in large group settings," said Frederick Wu, President and CEO of DeltaTrak. "Our focus is p
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom