Dongguan Mentech Optical & Magnetic to Acquire Majority Stake in ABB E-mobility’s ChargeDot

Strategic acquisition strengthens Dongguan Mentech Optical & Magnetic’s position in AC charging with ABB E-mobility to continue to focus on ultra high-power DC charging solutions 

ZURICH, Switzerland, and DONGGUAN, China, Aug 04, 2025  – ABB E-mobility and Dongguan Mentech Optical & Magnetic Co., Ltd. (Shenzhen Stock Exchange: 002902.SZ) today announced that Mentech has signed a definitive agreement to acquire a 60 percent majority stake in ChargeDot, ABB E-mobility's AC home-and-workplace charging business. Under the terms of the agreement, ABB E-mobility will retain a 40 percent share, ensuring its continued support for ChargeDot’s growth and innovation. The transaction remains subject to required regulatory approvals and is expected to close in the fourth quarter of 2025.

This transaction enables Dongguan Mentech Optical & Magnetic to expand its position in the growing AC charging segment, leveraging ChargeDot’s technology platform and dedicated organization. For ABB E-mobility, the majority stake sale marks a strategic step to further sharpen its focus on core DC high-power and ultra-high-power charging systems for depot-based, public, and destination applications. 

“ChargeDot has delivered excellent results in China and key international markets since its launch,” said Michael Halbherr, CEO of ABB E-mobility. “By partnering with Mentech, an established leader in electrification solutions, we are ensuring ChargeDot’s continued success, while concentrating on innovation and product development in the rapidly expanding markets of DC fast and ultra-high-power charging for depots, fleets, and public EV charging." 

Anson Yang, Chairman and CEO of Mentech, added, “The acquisition of a majority stake in ChargeDot is a transformative step for Mentech. We gain access to world-class AC charging technology, an experienced management team and ABB E-mobility’s established distribution network in Europe and North America. Together, we will drive the next wave of home and workplace charging solutions in China and beyond.” 

China International Capital Corporation (“CICC”) is acting as the exclusive financial advisor to ABB E-mobility in this transaction.

Key highlights of the transaction: 

• Strategic alignment
  The deal enables Mentech to broaden its product portfolio, while allowing ABB E-mobility to concentrate on site-level DC high-power charging systems.
• Continued partnership
  ABB E-mobility will retain a 40 percent minority stake in ChargeDot. ChargeDot will continue to leverage ABB E-mobility’s  distribution channels in Europe and North America, ensuring seamless and consistent access for multinational customers.
• Growth potential
  With Mentech’s strong manufacturing base and deep local market expertise, ChargeDot is well positioned to capture rising demand for AC charging in China’s rapidly expanding EV market and to accelerate international deployment.
  
  
  About
  
  ABB E-mobility enables a more sustainable and efficient mobility future as a global leader in electric vehicle (EV) charging solutions. The company is a partner of choice for the world’s leading EV OEMs, EV charging network operators and fleet companies. It offers the widest portfolio of EV charging solutions from high-power chargers for destination charging to the high-way stations of the future, solutions for the electrification of fleets, and charging for electric buses and trucks. With ~1,400 employees around the world, ABB E-mobility has deployed over 68,000 high-power chargers and electrified more than 10,500 sites globally.  
  
  Mentech: Dongguan Mentech Optical & Magnetic, established in June 2008. As a leading provider of electronic components and system solutions in China, the company focuses on 4 core areas: new energy, intelligent in-vehicle systems, high-speed communication, and artificial intelligence applications. It is committed to offering cutting-edge products and technological services to customers. Mentech adheres to the principle of "customer-centric, technology-driven”. By deeply integrating resources along the industrial chain, it is building an open industrial interconnected ecosystem.