The investors taking part in the second round are BeyondNetZero, the climate solutions fund of General Atlantic, a leading global growth equity firm; GIC, a global institutional investor and Singapore's sovereign wealth fund; Just Climate, a UK-based climate-led investment firm founded by Generation Investment Management; and Germany-based Porsche Automobil Holding SE, a holding company with investments in the areas of mobility and industrial technology and core shareholder in Volkswagen AG and Porsche AG.

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. Following the second round, ABB remains a committed partner to ABB E-mobility with a shareholding of approximately 80 percent.

Through this private placement, ABB E-mobility has raised a total of approximately CHF525 million in funds for the E-mobility business, with both investment rounds based on the same company valuation and contractual terms. In November 2022, ABB E-mobility announced the closing of the first round of the pre-IPO private placement of approximately CHF200 million. This included participation from the long-term equity strategy fund of Interogo Holding, a foundation-owned international investment group based in Switzerland (which will be represented on the board of directors of ABB E-mobility), moyreal holding ag, a Swiss single-family office with a long-standing history in the automotive industry and advised by Helvetic Trust AG, and ABB E-mobility Chairman, Michael Halbherr.

ABB CEO Björn Rosengren said: “We are delighted to see investors sharing our strong confidence and trust in the E-mobility business growth story. Furthermore, ABB remains committed to our strategy to separately list the business subject to constructive market conditions.”

ABB E-mobility is a global market leader in building a zero-emission future, with smart, reliable and emission-free EV charging solutions. The company has significantly scaled up its business, also through a number of acquisitions and investments, including In-Charge, Chargelab and Numocity, as well as the opening of a state-of-the art production facility in Italy and its recent US manufacturing footprint expansion.

Lilja, Morgan Stanley, and UBS acted as financial advisors and Lenz & Stähelin acted as external legal advisors to ABB on the two rounds of the private placement.