Friday, August 23, 2019

CTEK Acquires Chargestorm, Enters EV Charging Game


Soon, CTEK won’t just be handling car battery care and maintenance, it will be charging electric vehicles as well. The news comes as CTEK acquires Swedish-based Chargestorm, a market leading developer of products and systems for the charging of electric vehicles.

According to CTEK, the decision was an easy one as more vehicle manufacturers start transitioning into electric vehicles and e-mobility. As a global leader in battery management solutions, CTEK sees its entry into the EV sector as a way to consolidate its base and become a major force in this burgeoning market.

Chargestorm is Scandinavia’s largest producer of electric vehicle charging solutions, and the acquisition by CTEK will take Chargestorm products to a worldwide audience, potentially including the Philippines where CTEK has an official presence.

According to CTEK Philippines, they are currently studying the potential of bringing in Chargestorm chargers and systems in the country and they have already started talking with several carmakers on a partnership. Though nothing is solid yet, it comes at an opportune time with several carmakers already bringing in plug-in hybrid or pure electric vehicles.

While Nissan is the most publicized with the impending arrival of the all-electric Leaf in 2020, Hyundai Asia Resources, Inc. is already offering the Kona EV while Volvo Cars Philippines is offering a Plug-In Hybrid version of the S90 and soon, the XC90. BYD is also offering its Tang SUV.

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