ABB has bought a majority stake in Shanghai Chargedot New Energy Technology Co., a Chinese electric vehicle charging company, the Swiss engineering company said yesterday as its ramps up its operations in e-mobility.

Chargedot, which employs 185 people, makes charging stations and software platforms to enable vehicles to be charged with electricity.

ABB, which has installed an electric vehicle charging network in Singapore and across the Netherlands, has bought a 67 percent stake in Chargedot with an option to increase its stake. The price of the acquisition was not disclosed.

The acquisition, the first under chief executive Peter Voser, is intended to boost ABB’s presence in the fast-growing Chinese electric vehicle market, and strengthen the company’s relations with makers of electrically-powered trucks and cars.

China already has an electric vehicle fleet of 2 million vehicles, the largest in the world, ABB said, with consumers supported by a government incentive program and concerns about air pollution. (SD-Agencies)