31 May 22

ABB acquires Numocity charging operators in India

ABB acquires Numocity charging operators in India

ABB’s e-mobility division will acquire Numocity, an EV charging platform operating in India. In a first stage, ABB will increase its share in Numocity to a controlling stake of 72%. By 2026, it will become the sole owner. The financial details of the deal have not been disclosed. 

Founded in 2016, Bangalore-based Numocity has been collaborating with ABB since 2019, when the Swiss-Swedish multinational invested 7% in the company as venture capital. ABB says the deal will strengthen its position in e-mobility in India, and ultimately also across South East Asia and the Middle East – target regions for Numocity expansion. 

Numocity’s cloud-based platform allows consumers and fleet operators to use chargers and battery swaps on a pay-as-you-go basis. Battery swapping stations (pictured: Gogoro battery swapping station) have proved successful in some Asian countries, especially for two- and three-wheelers, and are set to roll out massively across India. 

Image: Gogoro

Authored by: Frank Jacobs