ABB’s electric charging business lays out growth plans

ABB’s electric charging business has laid out a capex plan to spend $750 million on expanding its operations after its flotation later this year.

The cash will be used to fund acquisitions and organic growth as e-Mobility, which makes fast chargers for electric vehicles (EVs). The company expects to increase its revenues by 40-45 per cent this year. In the mid-term, the business expects to outgrow the market for EV chargers and related services by increasing its sales by 25-30 per cent per year.Other goals of the company include a mid-term operational earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 15-20 per cent.