ABB Ltd. Considers Sale of E-Mobility Business

ABB Ltd. Considers Sale of E-Mobility Business

Raphaelle Berger
2 min read

ABB Mulls $100-200M E-Mobility Business Sale Amid Industry Shifts

ABB Ltd. is contemplating selling its E-mobility business, including electric vehicle charging stations and R&D facilities, potentially fetching $100-200 million. Chinese firms are expressing interest, as ABB collaborates with China International Capital Corp. to assess potential buyers. In a contrasting move, Ionic Materials, a Massachusetts-based battery developer, has ceased operations, laying off much of its staff after garnering $65 million in 2018. On a brighter note, IberAmerican Lithium Corp. has received shareholder approval for acquiring Strategic Minerals Europe Corp., incorporating the Penouta tin mine and adjacent lithium projects, striving to ramp up production and delve into the green energy market.

Key Takeaways

  • ABB is considering a sale of its E-mobility business, valued between $100-200 million, garnering interest from Chinese firms.
  • Ionic Materials, a battery developer, has shut down operations and laid off a large number of employees after securing $65 million in 2018.
  • IberAmerican Lithium Corp. has obtained approval to acquire Strategic Minerals Europe Corp., including the Penouta tin mine.
  • ABB's E-mobility assets encompass over 1 million EV chargers worldwide and a stake in the Chinese EV charging software firm ChargeLab.
  • IberAmerican Lithium aims to recommence production at the Penouta tin mine and explore adjacent lithium projects.


ABB's potential divestment of its E-mobility business, valued at $100-200 million, could reshape the electric vehicle (EV) charging infrastructure sphere, especially if acquired by Chinese entities. This move might amplify China's global EV influence while potentially constraining ABB's future in this sector. The closure of Ionic Materials, despite substantial funding, underscores the hurdles in battery tech innovation. IberAmerican Lithium's acquisition of Strategic Minerals Europe Corp. signals a strategic shift towards green energy minerals, likely bolstering lithium and tin supply, vital for the EV and renewable energy sectors. These developments underscore a dynamic transformation in the EV and battery materials landscape, steered by market demand and strategic investments.

Did You Know?

  • ABB Ltd.: ABB is a Swiss multinational corporation primarily operating in robotics, power, heavy electrical equipment, and automation technology, renowned as one of the largest engineering companies and principal suppliers of industrial automation and power grids.
  • E-mobility business: This denotes the electric mobility sector, encompassing the development, production, and distribution of electric power-based vehicles and the requisite infrastructure, such as charging stations.
  • China International Capital Corp. (CICC): CICC is the first joint-venture investment bank in China, extending an array of financial services, including equity and debt underwriting, mergers and acquisitions advisory, securities sales and trading, research, asset management, and wealth management.

You May Also Like

This article is submitted by our user under the News Submission Rules and Guidelines. The cover photo is computer generated art for illustrative purposes only; not indicative of factual content. If you believe this article infringes upon copyright rights, please do not hesitate to report it by sending an email to us. Your vigilance and cooperation are invaluable in helping us maintain a respectful and legally compliant community.

Subscribe to our Newsletter

Get the latest in enterprise business and tech with exclusive peeks at our new offerings