ABB Ltd (SWX:ABBN) has agreed to acquire an unknown majority stake in Numocity Technologies Pvt Ltd. on May 25, 2022. ABB will increase its shareholding to a controlling majority of 72% and has the right to become sole owner by 2026. The transaction is part of ABB E-mobility's overall growth strategy and will significantly improve its position across India, as well as South East Asia and the Middle East – target regions for Numocity given increasing demand for charging solutions for two and three-wheelers, cars and light commercial vehicles.