Eaton Acquires Green Motion SA, Expanding Electric Vehicle Charging Capabilities

Rhea-AI Summary

Power management company Eaton (NYSE:ETN) has announced the acquisition of Green Motion SA, a Swiss leader in electric vehicle charging hardware and software. This move aligns with Eaton's strategy to capitalize on the growing energy transition and electric vehicle infrastructure market.

Uday Yadav, Eaton’s president, emphasized the significant growth expected in charging infrastructure over the next decade. The integration of Green Motion’s charger designs and advanced power management software is anticipated to enhance Eaton’s existing energy solutions and product offerings.

Positive

• Acquisition of Green Motion enhances Eaton's electric vehicle infrastructure capabilities.
• Expected revenue growth driven by increasing demand for electric vehicle charging solutions.
• Integration of advanced power and billing management software strengthens product offerings.

Negative

• None.

Power management company Eaton (NYSE:ETN) today announced it has acquired Green Motion SA, a leading designer and manufacturer of electric vehicle charging hardware and related software. Green Motion is based in Switzerland.

“Energy transition around the world is rapidly gathering momentum, and Eaton is well positioned to contribute to society and benefit from this important trend,” said Uday Yadav, president and chief operating officer, Electrical Sector, Eaton. “Electric vehicle charging infrastructure is among the areas where we expect to see significant growth over the next decade. Green Motion’s proven charger designs and its advanced power and billing management software are powerful additions to Eaton’s existing energy storage and power distribution offerings.”

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 92,000 employees. For more information, visit Eaton.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210322005775/en/

FAQ

What did Eaton announce on March 22, 2023?

Eaton announced the acquisition of Green Motion SA, a leading designer and manufacturer of electric vehicle charging hardware and related software.

How will Green Motion's acquisition impact Eaton's business?

The acquisition is expected to enhance Eaton's electric vehicle infrastructure capabilities and contribute to revenue growth.

What market trends does Eaton aim to capitalize on with this acquisition?

Eaton aims to capitalize on the growing demand for electric vehicle charging infrastructure as part of the global energy transition.

Where is Green Motion SA based?

Green Motion SA is based in Switzerland.

What products does Eaton plan to enhance with this acquisition?

Eaton plans to enhance its energy storage and power distribution offerings with Green Motion's charger designs and software.