ABB to Acquire Majority Stake in Emobility Company Chargedot
October 28 2019 - 4:18AM
Dow Jones News
By Kim Richters
Engineering company ABB Ltd. (ABBN.EB) said Monday that it will
buy a 67% stake in emobility company Shanghai Chargedot New Energy
Technology Co.
China's Chargedot, which provides charging stations and software
platforms to customers such as electric vehicle manufacturers, will
help ABB to strengthen its emobility portfolio, the company
said.
The Swiss company didn't comment on the financial terms of the
deal and said that it could increase its stake in Chargedot in the
next three years.
The transaction is expected to close in the coming months, ABB
said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 28, 2019 04:03 ET (08:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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