Leading automation and power technology group
) shares rose marginally by 0.16% on Sep 25, following the
company's announcement about the marking approval by CE for its
fast charging 50kW 53 CCS DC station for electric vehicles. ABB
is the first supplier in Europe to receive a CE approval for a
CCS DC fast charging solution by an independent certification
ABB expects to deliver the industry-best charging solution in
Europe by focusing on the quality, reliability and the
connectivity standards of these charging stations. This
certification by CE affirms the company's commitment toward
maintaining high quality along with the safety of its users.
ABB's Terra 53 CCS DC are safe and cost effective charging
solutions, compatible with all electric vehicles and can easily
be connected to various software systems including back offices,
access management systems and payment platforms. These stations
are so designed that they can be managed efficiently even via a
remote monitoring system. Recently, this charging solution showed
successful result when tested by BMW and Volkswagen in a
ABB has been successfully tapping the growth potential of the
charging industry, with the establishment of the first
fast-charging station in the Netherlands in May 2010. Earlier
this year, ABB also set up the world's first DC charging
infrastructure with a network of 170 fast chargers throughout
Estonia, Europe. ABB expects this fast growing charging industry
to reach roughly $1.0 billion by 2017 and $4.0 billion by
ABB, a global leader in power and automation technologies,
currently carries a Zacks Rank #3 (Hold). Other stocks worth
considering at the moment are
Michael Baker Corp.
), both having a Zacks Rank #1 (Strong Buy) along with
Plug Power Inc.
) that carries a Zacks Rank #2 (Buy).
ABB LTD-ADR (ABB): Free Stock Analysis Report
BAKER (MICHAEL) (BKR): Free Stock Analysis
PLUG POWER INC (PLUG): Free Stock Analysis
REXNORD CORP (RXN): Free Stock Analysis
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