CTEK, a leading global brand in the care and maintenance of
vehicle batteries, has today announced the acquisition of
Chargestorm AB, a market-leading Swedish developer of products
and systems for the charging of electric vehicles.
As a global leader in battery management solutions, entry
into the electrical vehicle sector will enable CTEK to build
further upon its solid base and become a major force in this
dynamic, growing market.
This decision comes at time when vehicle manufacturers are
preparing to spend a record amount on research and development
within e-mobility. Consumer demand for more ecologically sound
vehicles is on the increase and the cost of buying and
maintaining electric vehicles is reducing.
Jon Lind, Chief Executive at CTEK said, "The acquisition of
the electrical vehicle charging business from Chargestorm AB will
further expand our business and help us to enter a new market
that is rapidly growing."
Jon continued "Our new colleagues from Chargestorm will
bring additional expertise to our business, enabling us to
develop the most advanced electrical vehicle charging solutions;
we want to build upon what they have achieved already within the
energy & facilities markets here in Scandinavia. We have
proven capability and strong relationships with vehicle
manufacturers to enable us to drive the development, manufacture
and distribution of products and systems for electric vehicles on
a global scale."
Tomas Wolf, Chairman at Chargestorm said, "You could say
that with Scandinavia being one of the largest market for
electric vehicles in the world, it is only right that two
Scandinavian companies are joining together to enable global
reach of Electrical Vehicle products. The combination of
Chargestorm's cutting edge technology and CTEK's globally
renowned expertise in battery charging means we have increased
resource to continue to push the boundaries of research and
development to bring to the market new, exciting and innovative
products."
Jon Lind said, "There are many synergies between the two
companies; we have the same core values based on quality, safety,
ease of use and maximizing battery performance. We are looking
forward to developing strong relationships with Chargestorm
customers as well as introducing this exciting technology to our
existing customer base."
Chargestorm is Scandinavia's largest producer of electric
vehicle charging solutions, and the acquisition by CTEK will
take Chargestorm products to a worldwide audience.
To find out more about this acquisition please visit
http://www.ctek.com/chargestorm
ABOUT CTEK
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CTEK is a leading global brand in the care and
maintenance of vehicle batteries.
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CTEK is a world leading authority on battery
technology, battery chargers and battery care and has built a
reputation for being first to market with new
products.
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Established in 1997, CTEK now sells over a million
chargers every year in over 70 countries.
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CTEK chargers use patented technology to ensure that
chargers condition, charge, and maintain all types of
lead-acid and lithium (LiFePO4) batteries quickly, simply and
safely.
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CTEK supplies chargers to the world's most recognized
manufacturers including Audi, Bentley, BMW, Corvette,
Ferrari, Jaguar, Maserati, McLaren, Mercedes, Porsche, and
Rolls- Royce.
ABOUT CHARGESTORM
Chargestorm is an award-winning Swedish developer and
manufacturer of products and systems for the charging of
electric vehicles (EV).
Founded in 2009, Chargestorm AB is a privately owned,
rapidly growing company. They have customers come from
different industries and sectors, including local government
organisations, energy companies, tenant-owner housing
associations, private individuals and property owners.
To date, Chargestorm has already produced 22,000 domestic
and commercial charging stations, with an average number of
4,000 charging sessions every day. This translates to around
600,000 fossil free kilometres every week.
