CarCharging acquires 12,500 ECOtality EV charging points
The $3.335m (£2.08m) acquisition includes a network of 12,560 public access charging stations across the United States, as well as the supporting operating system provided to drivers, businesses and utilities. ECOtality’s research and testing resource and electric industrial vehicle businesses are not included.
CarCharging chief executive officer, Michael D. Farkas, said: 'We are delighted to have completed the Blink transaction and to acquire assets that originally cost approximately $230 million for only $3.335 million. CarCharging has always been committed to supporting the electric car industry and by adding Blink and all of its assets to our network of EV charging stations, we can continue our efforts to further accelerate the adoption of EVs nationwide.'
ECOtality, which had been working towards a government-subsidied nationwide charging infrastructure named The EV Project, filed for bankruptcy in September following slow commercial sales, suspension of funding and difficulties with its public charging equipment. CarCharging now owns the assets for The EV Project, following the acquisition.For more of the latest industry news, click here.