ZURICH -- ABB says it has acquired a controlling interest in U.S-based InCharge Energy, which specializes in electric-vehicle charging infrastructure.
The Swiss maker of industrial automation and factory robots said the acquisition built on an initial investment and took its stake in the company to approximately 60 percent.
Founded in 2018 and based in California, InCharge Energy has around 50 employees and is active in the U.S. and Canada.
"Together with InCharge Energy and its service-centric customer approach, we are ideally positioned to benefit from the significant future growth of the U.S. EV market," Frank Muehlon, president of ABB's E-mobility Division, said in a statement.
ABB said in September that it had launched the world's fastest electric-car charger as it presses ahead with plans to float the business which could be valued at around $3 billion.
The company's new Terra 360 modular charger can charge up to four vehicles at once and can fully charge any EV within 15 minutes, the company said.
The device, which can deliver 100 km (62 miles) of range in less than 3 minutes, will be available in Europe by the end of the year, the company said.