Eaton acquires Green Motion SA to expand EV charging capabilities
Eaton expects significant growth in the area of electric vehicle charging infrastructure over the next decade.
New Delhi: Power management company Eaton announced that it has acquired the Switzerland-based Green Motion SA, a designer and manufacturer of electric vehicle charging hardware and related software.
Uday Yadav, president and chief operating officer, electrical sector, Eaton, said, “Electric vehicle charging infrastructure is among the areas where we expect to see significant growth over the next decade.”
Green Motion’s charger designs and its advanced power and billing management software are powerful additions to Eaton’s existing energy storage and power distribution offerings, he said.
Green Motion has been manufacturing charging stations, designs management software for charging networks, operates charging stations and is a service provider for electric mobility since the last 10 years.
Eaton’s 2020 revenues stood at $17.9 billion. It is present in more than 175 countries and employs approximately 92,000 people. The company has had a great run on the share market with its stock up by 14% over the last three months.
Source: ETAuto
