Ineos Styrolution has entered into a definitive agreement to sell its acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) production site in Map Ta Phut, Thailand, to Styrenix Performance Materials Ltd. The transaction is expected to close in early 2025. Ineos and Styrenix have preferred to not disclose the financial details of the acquisition. ABS is a common thermoplastic widely used in the production of automotive interior and exterior parts including instrument pane...

Munich-based electric vehicle charging infrastructure company Qwello has acquired Dutch charge-point operator (CPO) Park & Charge, which was established in 2016 and is active in about 200 municipalities in the Netherlands, according to a news report published by Electrive on May 13. The report said that post-acquisition, Qwello will manage more than 12,000 EV charging points installed in 300 municipalities across seven countries in Europe. It further said that Park & Charge’s existi...

Japan's Panasonic Holdings said it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by US private equity firm Apollo Global Management, and then make an investment in the new holding entity, US News reported March 29, quoting a Reuters report. The transaction has a total enterprise value of ¥311 billion (about $2.06 billion), subject to adjustments at closing, which is expected by the end of the first quarter of 2025, Apollo said in a statement. Panasonic ...

EasyPark Group, a leading mobile paid parking provider, aims to acquire Flowbird Group, a global mobility player offering integrated parking and transportation solutions. The acquisition will expand EasyPark Group's reach to thousands of new locations worldwide, enabling the company to deploy its award-winning consumer and business-to-business services. Flowbird Group operates under several brands, including Flowbird, YourParkingSpace, TPark, Extenso Cloud and Yellowbrick, providing multiple ...

Harman Professional Solutions, a global leader in audio, lighting and video and control technologies, has agreed to acquire Flux Software Engineering (Flux::), a pioneer in immersive audio production, audio processing plug-in design and audio analysis. The acquisition will expand Harman Professional's offerings across various applications with cutting-edge immersive technology and establish a foundation for future innovation by combining Flux::'s team with Harman Professional's hardware and s...

Rivian has acquired electric vehicle route-planning app-maker Iternio, according to a release June 21. Iternio’s app, called A Better Routeplanner (ABRP), provides route-calculation services considering weather conditions, charging stops and vehicle weight, among other factors. ABRP will power the Rivian in-car planner and the Rivian app to allow users to plan trips in advance. Rivian's trip planning will release later this June and will be updated via the monthly softwa...

UK-based online car retailer, Cazoo has agreed to sell its German subscription business, Cluno GmbH, to ViveLaCar GmbH and The Platform Group GmbH & Co. KG, the company said in a press release dated 17 February. The financial terms of the transaction were not disclosed. The total portfolio includes several thousand cars in the German market. The agreement includes 100% of the capital and voting rights of the company Cluno GmbH and the Cluno brand along with the associated assets. All empl...

Shell USA, Inc., a subsidiary of Shell plc, has signed a definitive agreement to acquire 100% stake in EV charging network company Volta Inc. in an all-cash deal valued at approximately USD169 million, Shell announced on 18 January 2023. The acquisition of Volta will give Shell access to its assets such as an existing public EV charging network of over 3,000 charge points at destination sites (shopping centers, grocery stores, pharmacies) across 31 US states and territories, a development pip...

The Volkswagen Group has entered into a partnership with car sharing company MILES Mobility to sell UMI Urban Mobility International GmbH and WeShare car sharing business, according to Volkswagen’s press release on 1 November 2022. Both parties have agreed not to disclose the purchase price. Also in the context of the new partnership, MILES has ordered more than 10,000 all-electric vehicles from the Audi, Seat/Cupra and Volkswagen Passenger Cars brands, which are scheduled for delivery from...

Digital maps provider MapmyIndia is set to acquire 26.37% stake in travel startup kogo Tech Labs to develop a travel and hyper-local platform integrated with maps and navigation for automotive companies, Economic Times reported on 21 September. MapmyIndia has invested USD1.25 million in kogo and has the option to raise the stake to 50% in two years. “There is a lot more planned as part of the partnership for the future, that will also deliver integration solutions and apps to consumers, the...

Michigan-based global supplier of powertrain systems and electric mobility solutions BorgWarner has acquired China-based EV charging solutions provider Hubei Surpass Sun Electric (SSE) for CNY410 million (USD58.44 million), the company announced on 20 September 2022. “The company has entered into an equity transfer agreement under which it has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of SSE,” BorgWarner said in a statement Tuesday. The com...

South Korea’s SK Inc. and SK Energy have acquired the management rights of US startup Atom Power Inc., for USD150 million, the company announced on 18 August 2022. Atom Power, which was set up 2014, developed the solid-state circuit breaker (SSCB), which is controlled by power semiconductors. Atom Power uses the technology in operating EV charging and energy solution businesses in the US. Interestingly, Atom Power’s SSCB technology also takes the role of measuring and collecting electrici...

Allego N.V., a leading pan-European public electric vehicle (EV) fast-charging operator has acquired the charging network provider Mega-E for EUR33 million (USD33.28 million), Allego said on 11 July 2022. Mega-E, which stands for Metropolitan Greater Areas Electrified, was an initiative led by Allego and other companies with an aim of setting up high power charging stations across Europe. The acquisition of Mega-E will consolidate the latter’s network of EV charging stations into Allego’s...

Blink Charging Company, one of the leading providers of electric vehicle (EV) charging networks in the United States, has signed a definitive agreement to acquire SemaConnect, Inc., a Maryland, US–based EV infrastructure company, for USD200 million, Blink said on 14 June 2022. The acquisition of SemaConnect will add nearly 13,000 EV chargers to Blink’s existing footprint, along with an additional 3,800 site host locations and more than 150,000 registered EV driver members, the compan...

Japanese oil company Eneos has acquired the rights to operate about 4,600 electric vehicle (EV) chargers located across commercial facilities from electronics company NEC Corporation, a report published by the Japan-based newspaper The Asahi Shimbun said on 7 June 2022, citing the company announcement. The acquisition is part of Eneos’ larger plan of venturing into the EV charging business and build a network of charging stations across Japan, it said, adding that Eneos’ strategy to shift...

Shell Malaysia has announced a deal to acquire 50% shareholding in Pixelbyte, the company operating ParkEasy, according to a company press release on 3 June. ParkEasy is a mobile application software helping drivers park and offer a pre-booked slot for EV Charging. “Decarbonising Mobility and enabling better services to our customers through digital innovation are core to our Powering Progress strategy. We intend to make investments that will help us serve our customers better through the e...

Zurich-based power equipment company ABB has agreed to acquire a controlling stake in India’s Numocity, a leading startup that has developed digital platform for electric vehicle charging, ABB announced on 25 May 2022. Interestingly, ABB plans to increase its shareholding to a controlling majority of 72 percent from earlier 7 percent and has also secured the right to become the sole owner by 2026. That said, the company has not disclosed financial details of the transaction. Three years ago...

Antin Infrastructure Partners has announced that it signed an investment agreement with Power Dot, Arié Group and other current shareholders to acquire a controlling stake in electric vehicle (EV) charging operator Power Dot, according to a press release published by Antin on 18 May. Nicolas Mallet, NextGen Partner at Antin, said, “Power Dot is exactly the sort of company that we envision for our NextGen strategy. Antin has always been at the forefront of identifying long-term market trend...

US-based electric vehicle (EV) charging network provider Blink Charging Company announced on 26 April 2022 that its wholly owned subsidiary in Europe, Blink Holdings BV, has acquired UK’s Electric Blue Ltd. (also known as EB Charging). EB Charging is a provider of integrated EV charging and sustainable energy-based solutions. It is to be noted that with the said acquisition of EB Charging, Blink Charging has not only marked its official entry in the United Kingdom but has also consolidat...

French multinational oil and gas company, TotalEnergies has signed with Bolloré Group for the acquisition of ‘Blue Charge’, which is the largest electric vehicle (EV) charging network in Singapore, the company said in a press announcement on 28 July. “Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest EV charging network in Singapore, with more than 1,500 charge points installed in the city-state,” TotalEnergies said in a note. Bollor�...

Australia-based manufacturer of DC fast chargers for electric vehicles (EVs), Tritium, and a special purpose acquisition company (SPAC) called Decarbonization Plus Acquisition Corporation II (DCRN) have announced an agreement for their business combination, according to a company press release on 26 May. The merger would result in Tritium becoming a publicly listed company, with the combined company being named Tritium. The business combination is expected to generate gross proceeds in cash o...

Blink Charging, an owner, operator, and provider of EV charging equipment and services, announced that it acquired the European EV charging operator Blue Corner N.V., based in Antwerp, Belgium, and its portfolio of 7,071 charging ports. The acquisition is part of Blink’s broader strategic international expansion plans, as Blue Corner has a network that covers Belgium, Luxembourg, the Netherlands, and France. According to a press release issued by Blink Charging on 11 May, this acquisition w...