ABB acquires controlling interest in InCharge Energy
By Will Hall - 18th March 2022
USA – Automated technology specialist ABB Ltd of Zürich, Switzerland, has announced the acquisition of a 60% stake in commercial EV charging firm InCharge Energy, based in Santa Monica, California, USA. The transaction builds on ABB’s initial investment as part of Series A venture capital funding in InCharge.
ABB states the purchase is part of its E-mobility growth strategy and will support the expansion of its turnkey EV infrastructure solutions. ABB had initially acquired a 10% stake in InCharge during its Series A venture capital funding round in 2020 and has now increased its interest to approximately 60% of the firm’s issued share capital.
