Swiss charging infrastructure provider Green Motion is being bought by Irish-American energy management company Eaton, but the management team will remain in place. Green Motion has been developing hardware and software for charging electric vehicles since 2009.
Green Motion will become a wholly owned subsidiary of Eaton as a result of the transaction. Details of the terms of the acquisition have not been disclosed, but it is clear that the management team, led by CEO and founder François Randin, will remain independent under the Eaton umbrella. No job cuts are planned. On the contrary, Green Motion will strengthen its Lausanne headquarters and Zurich office and create new jobs.
For years now, Green Motion has been relatively broadly positioned in the eMobility sector. On the one hand, the company is a hardware developer and has its own charging stations on the market under the RangeXT label. On the other hand, the company played a leading role in the founding of the Swiss charging network Evpass in mid-2016. In the meantime, the network's shareholders have joined forces with the petroleum companies Tamoil, AVIA and Oel-Pool to build a network of ultra-fast charging stations in Switzerland under the name Evpass Express. What's also unusual: In 2020, Green Motion launched a cooperation with the aircraft manufacturer Pipistrel to shape the future charging of electric aircraft.
For its part, the Eaton Group maintains a headquarters in Morges, Switzerland, for its business in Europe, the Middle East and Africa. Eaton has already been working with Green Motion for two years. On this basis, the Irish-American group already offers intelligent charging and energy storage solutions for electric vehicles. The background to this is that Eaton established a separate eMobility business unit in 2018 and sees increasing potential in this area.