(CercleFinance.com) – ABB announces that its ‘E-mobility’ division has agreed to acquire a majority stake in Numocity, a leading digital platform for electric vehicle charging in India founded in 2018 in Bangalore.
ABB will increase its stake to a controlling majority of 72% and may become the sole owner of Numocity by 2026. Financial terms of the transaction were not disclosed.
The transaction is part of ABB E-mobility’s global growth strategy and will significantly improve its position in India, as well as in Southeast Asia and the Middle East – target regions for Numocity given the growing demand charging solutions for two- and three-wheelers, cars and light commercial vehicles.
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