ABB acquires controlling interest in InCharge Energy
ABB has today announced its acquisition of a controlling stake in electric vehicle (EV) commercial charging infrastructure company InCharge Energy.
The transaction is part of ABB E-mobility’s growth strategy and is intended to accelerate the expansion of its portfolio to include turnkey EV infrastructure solutions to private and public commercial fleets, EV manufacturers, ride-share operators, municipalities, and commercial facilities owners. Financial terms of the transaction were not disclosed.
“This transaction is part of our commitment to accelerate the future of sustainable transport and strengthens the support to current and future customers and partners in the U.S.” said Tarak Mehta, President of ABB’s Electrification business area.
Frank Muehlon, President of ABB’s E-mobility Division added: “Today’s announcement is another important step in the evolution of our customer-focused EV offering. With our combined end-to-end turnkey solutions, we stand ready to help the U.S. achieve its aim of building a nationwide network of 500,000 EV chargers by 2030.”
Cameron Funk, CEO of InCharge Energy added: “ABB, as a pioneer of the green mobility revolution, is a natural fit for us. Most of our turnkey solutions already include ABB’s state-of-the-art charging hardware.”
Image courtesy of ABB E-mobility.