Eaton, the global power management company on Monday announced the acquisition of Green Motion, SA, a Switzerland-based company that designs and manufactures electric vehicle charging infrastructure.
Tapping into the growing demand for a well-established network of electric vehicle charging stations as major auto companies around the globe pivot to electric vehicles, Eaton’s main objective of the partnership with Green Motion is to deliver EV charging infrastructure (EVCI) solutions for all types of buildings in Europe and North America by 2030.
“Energy transition around the world is rapidly gathering momentum, and Eaton is well-positioned to contribute to society and benefit from this important trend,” said Uday Yadav, president, and chief operating officer, Electrical Sector, Eaton.
“Electric vehicle charging infrastructure is among the areas where we expect to see significant growth over the next decade.”
Through the acquisition, Eaton intends to integrate Green Motion’s proven charger designs and its advanced power and billing management software to its existing energy storage and power distribution offerings.
By combining Green Motion SA's EVCI solutions with our leading energy storage and power distribution offerings, we will be able to deliver even stronger results for our customers commented Mr. Yadav.
Delivering EVCI for buildings-linked deployments is expected to enable Eaton to build a $0.7 billion to $1.2 billion business by 2030.
- By Shraddha Kakade
Asst. Editor, Emerging Technology News.