Porsche Automobil Holding SE, Stuttgart, has invested a double-digit million euro in a private placement in ABB E-mobility Holding AG, Baden, Switzerland. Lutz Meschke, a member of the board of management responsible for investment management at Porsche SE, said, “With the fast growth that we are seeing in electromobility, the need for expanding the corresponding charging infrastructure is increasing. We expect that the demand for chargers will continue to increase rapidly in the years to come. As a leading electric vehicle charging provider, ABB E-mobility will participate significantly in this market growth.”
ABB entered the e-mobility market in 2010 and today has sold more than one million electric vehicle chargers across more than 85 markets. With over 50,000 DC fast chargers sold, the company has the largest installed base of fast chargers in the market.
In addition to electric vehicle chargers, ABB E-mobility’s product portfolio also comprises services in the area of life-cycle management as well as software solutions for the planning and operation of electric vehicle fleets. The total volume of the private placement that has now been completed amounts to approximately 525 million Swiss francs. The proceeds will further accelerate the company’s rapid organic growth and acquisitions.