ABB E-mobility, a company based for electric vehicle (EV) charging solutions, announced that it has signed a pre-IPO private placement of approximately CHF200 million for newly issued shares led by new minority investors. The transaction will close during the fourth quarter 2022. ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software.
The private placement includes participation from the long-term equity strategy fund of Interogo Holding, a foundation-owned international investment group based in Switzerland. moyreal holding ag, a Swiss single-family office with a long-standing history in the automotive industry and advised by Helvetic Trust AG.
Recently in August 2022, LG Energy Solution and Honda Motor Company Limited announced a joint venture (JV) company to manufacture lithium-ion batteries in the US to power Honda and Acura EV models for the North American market.