The Lausanne-based company, Green Motion, has raised substantial capital as part of a technology licensing agreement with the Chinese Zhongding Group. The copmany has signed a product licensing agreement to provide the Chinese partner charging stations and software for managing network solutions to be used in the China 2020 project, which aims at changing the charging infrastructure of China.
Green Motion and Zhongding have signed an exclusive Green Motion product licensing agreement for China where charging infrastructure development potential is particularly strong. In October 2015, the Chinese government announced the establishment of a major charging network able to meet the demand of five million electric cars by 2020. As a participant in the project, Zhongding, has decided to use Green Motion’s charging stations and software for managing networks solutions. In return, the Zhongding Group will own minority stake in Green Motion’s capital and will from now on be represented on the board.
The acquired funds will also allow Green Motion to realize its plan for an intense expansion of its own charging stations network in Switzerland. To continue its international development, further discussions are under way to establish additional technology licensing agreements for selected foreign markets with considerable growth potential.
About Green Motion
The Lausanne-based company is one of the pioneers in the charging infrastructure market and has been successfully installing its charging stations nationwide. Green Motion products are marketed and maintained by a network of around 30 partners, including Switzerland’s main industrial services and energy distributors as well as car manufacturers. Currently, the company is recognised among the leading providers of charging infrastructure products for electric vehicles in Switzerland. Its network in 2016 comprises 730 charging stations installed nationwide that are used by over 220 institutional customers.
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