ABB Enters US market for Electric Vehicle Infrastructure with ECOtality Stake

ABB has invested $10 million in San Francisco-based ECOtality, a clean electric transportation and storage technologies company, to enter North America’s electric vehicle (EV) charging market and provide ECOtality with a strong global ally in power delivery systems.

ECOtality will use the investment to foster its expansion and finance initial requirements of the EV Project, a program to develop electric vehicle infrastructures in 16 major US cities funded by a $115 million grant from the US Department of Energy (DOE). The project involves installation of more than 15,000 chargers to support the deployment of 8,300 electric vehicles.

SOURCE [1]