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August 24, 2023

NaaS Powers Up Snagging Charge Amps for $66.4M in Electrifying Move

NaaS charges ahead: Swedish EV solutions provider, Charge Amps, joins forces in $66.4 Million deal

In the dynamic world of electric vehicles, alliances are forging pathways to a greener future. EV charging services firm NaaS Technology Inc. has taken a significant stride by acquiring Swedish EV charging solutions provider, Charge Amps for a noteworthy sum of $66.4 million. This bold move, securing 100% of issued shares, comes as part of NaaS' steadfast pursuit of global EV supremacy, following its earlier acquisition of Sinopower HK this summer.

Embracing the Charge Amps brand and expertise, Alex Wu, co-founder, President, and CFO of NaaS, emphasizes the importance of this addition to their portfolio. Wu notes that this milestone underscores NaaS' expansion into international markets and their optimism regarding the burgeoning prospects of EV penetration in Europe. This strategic alignment with Charge Amps aims to reinforce its stature in the EV charging arena, underpinned by a robust integration plan that promises the introduction of innovative products through Charge Amps channels.

Charge Amps, founded in 2012, holds a legacy of developing smart charging stations, cables, and dedicated cloud software. These solutions cater to diverse settings, from home charging to commercial establishments and public spaces, igniting a broader electrified lifestyle.

Olle Tholander, CEO of Charge Amps, articulates the underlying rationale behind this transformative partnership. Expressing enthusiasm for NaaS' strategic fit, Tholander highlights the global interest within their market and Charge Amps in particular. He stresses that NaaS' expertise and financial prowess align with Charge Amps' growth trajectory, envisioning an expanded product offering and an accelerated expansion strategy. Tholander's vision reflects the drive to amplify electrified living, steering toward a smarter ecosystem empowered by NaaS' extended product portfolio.

The collaboration between NaaS and Charge Amps exemplifies a dynamic evolution in the EV landscape. With sustainability at its core, this collaboration ignites prospects for an electrified world driven by innovation and strategic alliances.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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