ABB invests $10 million in electric vehicle infrastructure company ECOtality
Power and automation technology specialist ABB has announced a $10 million investment in electric vehicle infrastructure company ECOtality.
ECOtality has embarked on a $230 million project, with backing from the US Department of Energy, to install 15,000 commercial and residential charging stations in 16 cities and regions across six states in the US.
The investment will allow ECOtality to continue the project, and also establishes ABB as the company’s preferred supplier of power electronics and components.
The two companies will also work together on new charging technologies for electric vehicles based on ECOtality’s Blink™ technology.
ECOtality currently offers a number of electric vehicle charging options including the Blink Level 2 home charger for residential use and the Blink DC fast charger for commercial and public sites, which is capable of recharging electric vehicles within 30 minutes.
“The partnership brings together ABB’s experience in smart grids, renewable energy and reliable, efficient power networks with ECOtality’s leadership in North America’s growing market for electric vehicle infrastructure,” says Brice Koch, head of ABB marketing and customer solutions.