ELECTRIC.IE • The Magazine & Website for the Irish Electrical Industry • 25 ABB E-mobility increases majority stake in Chinese EV charging provider Chargedot ‒Transaction builds on ABB’s initial investment, increasing stake from 67 to 80 percent. ‒Positions ABB E-mobility for further growth in China, with increasing demand for high-power charging and export opportunities for Chinese EVs. ABB have announced it has increased its majority stake in Chinese electric vehicle (EV) charging provider, Chargedot Shanghai New Energy Technology Co., Ltd. (“Chargedot”) to 80 percent. ABB had previously acquired a 67 percent stake in Chargedot in March 2020. The additional investment is part of ABB E-mobility’s growth strategy and further strengthens ABB’s position in the rapidly growing Chinese e-mobility market. Financial terms of the transaction were not disclosed. China recorded the highest number of EV sales globally in 2021 for the seventh consecutive Industry News year, with more than 3.5 million electric vehicles sold; a 1.6 fold increase on 20201. Frank Muehlon, President of ABB’s E-mobility division comments: “Since ABB’s acquisition in 2020 we have seen strong doubledigit growth in the Chargedot business. ABB has helped deliver innovations in safe, smart and sustainable charging hardware and software solutions to the Chinese market, supporting leading companies such as SAIC, Xpeng and GAC Toyota. Looking ahead, Chinese demand for high-power charging solutions and export strategies for Chinese OEM’s are both showing significant growth. With this we see strong opportunities to leverage our global experience to further support our Chinese customers and increase market share.” Drawing on ABB’s expertise as the global leader in EV charging infrastructure has enabled Chargedot to increase its market penetration, supplementing its established AC charging business with ABB’s innovations in highpower, liquid cooled charging and smart, load management technology. ABB has also leveraged Chargedot’s expertise to further strengthen its position in a rapidly growing global AC charging market and will continue to maximize global supply opportunities. Companies supported by Enterprise Ireland increased net employment by 11,911 in 2021 - highest jobs gain in a single year ‒This is the highest annual increase in net employment reported by Enterprise Ireland. Employment increased across all economic sectors, with particularly strong jobs growth reported in Life Sciences (14%), Business Services (12%) and Digital Technology (10%). The positive jobs figures saw increases in employment across all regions in Ireland, with, for example, employment increasing by 9% in the North West and by 7% in the South East. In total, 68% of new jobs created were outside of Dublin. In total, 20,342 new jobs were created by companies supported by Enterprise Ireland, resulting in a net job increase of 11,911 when job losses are taken into account. Total employment by companies supported by Enterprise Ireland in 2021 was 207,894. Other key achievements supporting jobs in 2021 highlighted in the End of Year Statement issued by Enterprise Ireland included: • 125 new start-up companies supported • 1,375 overseas contracts secured with Enterprise Ireland assistance and the resumption in September 2021 of physical trade missions. • €61.6m in funding approved for 341 Covid-impacted companies in 2021. • 218 companies received funding of more than €100,000 to support other projects in 2021. • €14.6m was approved for 1,048 projects under the Ready for Customs Grant.
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