Eaton and Green Motion jointly announce the acquisition of the Vaud-based company by one of the global leaders in power management, whose headquarters for Europe, the Middle East and Africa are located in Morges, VD. The aim of both companies is to use their cutting-edge technologies to accelerate the global energy transition. Green Motion becomes a subsidiary of Eaton and its management remains in place.
Since 2009, the Swiss company Green Motion has developed a unique technology that combines hardware and software to charge all types of electric vehicles, with a wide range of AC and ultra-fast DC chargers.
Eaton, a global leader in intelligent power management, recognized this expertise early on and has been working with Green Motion for the past 2 years to provide customers with a combined smart charging and energy storage solution (its center of excellence being based in Le Lieu, VD), for electric vehicles.
Global center of excellence for electric mobility infrastructure in Switzerland
The common vision and ambition of both companies led Eaton to acquire Green Motion, completing its offer with a portfolio of state-of-the-art products designed in Switzerland. This will accelerate its international sales, thus playing a major role in the global energy transition. This acquisition creates new opportunities for both entities and a global center of excellence for electric mobility infrastructure will be created in Switzerland.
Green Motion continues to operate with its existing structure as a subsidiary of Eaton. Its management, led by its CEO and founder François Randin, remains in place. No job cuts are planned. Green Motion will strengthen its Lausanne headquarters and its Zurich branch, creating new jobs.
François Randin, Founder and CEO of Green Motion said: "Between Eaton and Green Motion, we have a strong complementarity between our products, technologies and teams as well as a common vision and ambition on the energy transition. This acquisition is a great opportunity to accelerate Green Motion's success internationally by immediately making a global impact on decarbonization to improve the world of tomorrow.".
"Energy transition around the world is rapidly gathering momentum, and Eaton is well positioned to contribute to society and benefit from this important trend,” said Uday Yadav, president and chief operating officer, Electrical Sector, Eaton. “Electric vehicle charging infrastructure is among the areas where we expect to see significant growth over the next decade. Green Motion’s proven charger designs and its advanced power and billing management software are powerful additions to Eaton’s existing energy storage and power distribution offerings."
Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 92,000 employees. For more information, visit www.eaton.com