Santa Monica EV Infrastructure Firm InCharge Sold to Swiss Tech Giant ABB

Pat Maio
Pat Maio has held various reporting and editorial management positions over the past 25 years, having specialized in business and government reporting. He has held reporting jobs with the San Diego Union-Tribune, Orange County Register, Dow Jones News and other newspapers in Ohio, West Virginia, Maryland and Washington, D.C.
InCharge
Image courtesy of InCharge Energy

Santa Monica-based fleet electrification company InCharge Energy has sold a majority stake in its business to Swiss robotics giant ABB, the companies announced Thursday.


The deal gives ABB a 60% controlling interest in InCharge, which builds electric vehicle charging systems for commercial fleet operators including ride-share operators, school districts and municipalities. Financial terms of the transaction were not disclosed. The Swiss firm initially acquired a 10% stake in the startup through its Series A funding round in 2020, which ABB led alongside Macquarie Capital.

While InCharge will be folded into ABB’s e-mobility division, it will maintain its management team, including co-founders Cameron Funk and Terry O’Day, as well as its “tech neutrality,” the company said in a press release.

Founded in 2018, InCharge manages fleet electrification projects for commercial customers including truck rental company Ryder, truck and bus manufacturer Navistar and GM BrightDrop, which is developing electric-powered vans for commercial delivery firms. BrightDrop is part of GM’s larger initiative to have an all-electric lineup of vehicles by 2035; its first customer is FedEx, which placed an initial order for 500 EV600 vehicles.

InCharge currently employs around 50 people. As part of its plans to expand nationally, the Santa Monica startup has a four-year goal to hire hundreds of field technicians to support and service its charging systems across the country.

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S.C. Stuart is a foreign correspondent (ELLE China, Esquire Latin America), Contributing Writer at Ziff Davis PCMag, and consults as a futurist for Hollywood Studios. Previously, S.C. was the head of digital at Hearst Magazines International while serving as a Non-Executive Director, UK Trade & Investment (US) and Digital Advisor at The Smithsonian.
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