ABB Acquires Controlling Stake In Incharge Energy
ABB said on Thursday it had acquired a controlling interest in U.S-based InCharge Energy, which specializes in electric vehicle (EV) commercial charging infrastructure.
The maker of industrial automation and factory robots said the acquisition built on an initial investment and took its stake in the company to approximately 60%.
Founded in 2018 and based in California, InCharge Energy has around 50 employees and is active in the United States and Canada.
"Together with InCharge Energy and its service-centric customer approach, we are ideally positioned to benefit from the significant future growth of the U.S. EV market," Frank Muehlon, president of ABB's E-mobility Division, said in a statement.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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