ABB acquires controlling interest in India’s Numocity

June 13, 2022

Numocity is a leading digital platform for EV charging in IndiaAcquisition strengthens ABB E-mobility’s position in Asia and Middle EastABB today announced that its E-mobility division has agreed to acquire a controlling stake in Numocity, a leading digital platform for electric vehicle charging in India. ABB will increase its shareholding to a controlling majority of 72 percent and has the right to become sole owner by 2026. ABB already made an initial investment of seven percent as part of seed stage venture capital funding three years ago. Frank Muehlon, CEO of ABB E-mobility said: “We are delighted to expand our presence in the burgeoning Indian market, while also enlarging our offering in EV charging infrastructure. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.

The source of this news is from ABB

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