ABB acquires controlling stake in InCharge Energy

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January 27, 2022 6:37 AM EST

An ABB Group EV charger is seen next to a Proterra Catalyst BE35 electric bus at an L.A. City Transportation Department (LADOT) DASH transit bus maintenance facility in downtown Los Angeles, California, U.S., August 21, 2021. REUTERS/Bing Guan

ZURICH (Reuters) - 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.

(Writing by Paul Carrel; Editing by Miranda Murray)


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