Swedish EV Charger Developer Charge Amps to be Acquired by China's NaaS Technology

Charge Amps AB, the Swedish developer of smart charging solutions for electric cars, has been acquired by China's NaaS Technology. The acquisition will support Charge Amps’ ongoing expansion and growth plans and further enhance its ability to deliver high-quality products and service its customers.

Charge Amps will continue trading under the same name and brand.

NaaS will pay approximately SEK 724 million (US$66.4 million) of 100% of the issued and outstanding shares. 

NaaS provides charging station operators and EV owners with online and offline charging solutions and non-charging value-added services.

It is a subsidiary of Newlinks Technology Limited, a leading energy digitalisation group.

Olle Tholander, CEO of Charge Amps, says: “There is strong interest from global investors in our market currently, and in Charge Amps specifically. We have been overt about our efforts in recent years to determine the best solution for the company’s long-term strategy and growth plan. We believe that NaaS has both the expertise and financial strength to support Charge Amps’ growth journey under the same brand in Europe with an expanded product offering and the means to expedite the company’s expansion plans. With NaaS’ extended product portfolio, Charge Amps will not only be able to bring more competitive and purposeful solutions to users, but also accelerate the transition to an electrified life and open the gateway to a smarter ecosystem.”

Alex Wu, Co-founder, President and CFO of NaaS, adds: “We are very pleased to welcome the Charge Amps brand and team into the NaaS platform, marking an important milestone as we continue to expand into the international market. We are most optimistic about the prospects of EV penetration in Europe and the overall charging service capacity. We are confident that we can work with the Charge Amps team to further strengthen its leading position in the EV charging space. We have also developed an integration plan that will see new products launched through the Charge Amps channels. I firmly believe this acquisition will bring value to our shareholders.”Charge Amps was founded in 2012 in Stockholm, Sweden, and is undergoing rapid international expansion, with 120 employees in seven countries, and sales across 15 markets. 

Charge Amps was founded in 2012 in Stockholm, Sweden, and is undergoing rapid international expansion, with 120 employees in seven countries, and sales across 15 markets.