Canadian Solar to buy back USD 150m in shares
Dec 10, 2019 8:58 CESTOctober 29 (Renewables Now) - Switzerland’s ABB (VTX:ABBN) on Monday announced it will acquire a 67% stake in Shanghai Chargedot New Energy Technology Co Ltd, a Chinese company offering charging solutions for electric vehicles (EVs).
The Swiss-based power and automation group said it can raise the stake further in the next three years.
According to ABB, the Shanghai-based tech company supplies AC and DC charging stations and software platforms to EV manufacturers, EV charging network operators, real estate developers and other customers.
ABB expects the acquisition will strengthen its relationship with Chinese EV manufacturers and further boost its e-mobility portfolio with hardware and software tailored for local needs.
Through ABB Robotics, the Swiss company supplies robot units and software in China for EV manufacturers’ assembly lines, ABB said.
Canadian Solar to buy back USD 150m in shares
Dec 10, 2019 8:58 CESTto-the-point: China Singyes Solar to change name
Dec 09, 2019 14:42 CESTWeekly renewables M&A round-up (Nov 25-29)
Dec 02, 2019 10:17 CESTto-the-point: JinkoSolar's Tiger panels to be used at 300-MW demo project in China
Nov 29, 2019 13:07 CESTShunfeng offloads 11 solar farms in China to cut debt
Nov 29, 2019 12:46 CESTLongi to step up mono ingot production with 10-GW factory
Nov 29, 2019 9:38 CEST