Mentech Takes Majority Stake in ChargeDot, Boosting Its AC EV Charging Capabilities as ABB E-Mobility Refocuses on High-Power DC Solutions

Mentech Takes Majority Stake in ChargeDot, Boosting Its AC EV Charging Capabilities as ABB E-Mobility Refocuses on High-Power DC Solutions

ZURICH, Switzerland & DONGGUAN, China – August 4, 2025 — Dongguan Mentech Optical & Magnetic Co., Ltd. (Shenzhen Stock Exchange: 002902.SZ) and ABB E-mobility have announced a major deal that will reshape part of the global electric-vehicle (EV) charging market. Mentech has agreed to purchase a 60% majority share in ChargeDot, ABB E-mobility’s business focused on AC (home and workplace) charging. ABB E-mobility will keep a 40% minority interest, continuing to support ChargeDot’s growth and innovation. Subject to regulatory approvals, the transaction is expected to close in the fourth quarter of 2025.

This agreement strengthens Mentech’s presence in the fast-growing AC charging segment by giving it access to ChargeDot’s well-established technology platform, its skilled team, and ABB E-mobility’s distribution channels in Europe and North America. For ABB E-mobility, the sale allows it to sharpen its strategy on its core strength: high-power and ultra-high-power DC charging systems for fleet depots, public corridors and destination locations.

“ChargeDot has achieved excellent results in China and other key markets since its inception,” said Michael Halbherr, CEO of ABB E-mobility. “Working with Mentech ensures ChargeDot continues to thrive, while we double down on innovation and product development in the fast-growing DC fast-charging market for depots, fleets and public EV charging.”

Anson Yang, Chairman and CEO of Mentech, called the acquisition “a transformative step” for the company: “We’re gaining world-class AC charging technology, an experienced management team, and ABB E-mobility’s proven distribution network overseas. Together we’ll lead the next wave of home and workplace charging solutions in China and internationally.”

China International Capital Corporation (CICC) is acting as exclusive financial adviser to ABB E-mobility on the transaction.

Why the Deal Matters

● Strategic Fit: Mentech will broaden its product portfolio and move deeper into the home and workplace charging market, while ABB E-mobility can concentrate on high-power DC systems at the site level.

● Ongoing Partnership: ABB E-mobility’s 40% stake in ChargeDot means continued collaboration. ChargeDot will keep using ABB E-mobility’s European and North American channels, ensuring global customers retain reliable access.

● Growth Potential: With Mentech’s manufacturing scale and local market know-how, ChargeDot is well positioned to capture rising demand for AC charging in China and accelerate international rollout.

About ABB E-Mobility

ABB E-mobility is a global leader in electric vehicle charging solutions and a trusted partner for top EV manufacturers, charging network operators and fleet businesses. Its product line covers everything from high-power destination chargers to highway super-fast stations, fleet electrification solutions, and charging for electric buses and trucks. The company employs about 1,400 people worldwide and has deployed over 68,000 high-power chargers at more than 10,500 sites globally, helping build a more sustainable and efficient mobility future.

About Mentech

Founded in June 2008, Dongguan Mentech Optical & Magnetic is a leading Chinese provider of electronic components and system solutions. The company focuses on four core areas: new energy, intelligent in-vehicle systems, high-speed communication and artificial intelligence applications. Guided by its “customer-centric, technology-driven” principle, Mentech integrates resources across the industrial chain to create an open, interconnected ecosystem.

What It Means for the EV Market

This acquisition highlights a clear shift in the EV infrastructure landscape. As the global electric-vehicle market grows, AC charging at homes and workplaces remains a crucial part of everyday EV ownership, while high-power DC charging is becoming essential for long-distance travel, fleets and heavy-duty applications. By splitting focus—Mentech on AC, ABB E-mobility on DC—the two companies aim to lead in their respective niches.

For consumers, the deal promises more accessible, better-integrated AC charging options in China and abroad. For fleet operators and governments, it signals that ABB E-mobility will continue investing in cutting-edge, ultra-fast DC technology needed to keep up with rising demand for public and depot charging.

Industry analysts see this type of collaboration as a template for future partnerships, allowing companies to scale faster while still innovating. As EV adoption accelerates, specialized players who master one segment of the charging market are likely to gain a competitive edge.