CTEK moves into EV market with Chargestorm

CTEK has acquired the help of Chargestorm AB, a market-leading Swetish developer of products and systems for the charging of electric vehicles.

CTEK is planning on spending more time researching and developing within e-mobility which is why partnering with an expert company in electric vehicles is a move in the right direction for the company.

Consumer demand for more ecologically sound vehicles is increasing with the cost of buying and maintaining electric vehicles is decreasing, according to CTEK press release. Chargestorm AB will help CTEK entry into the electrical vehicle sector move more smoothly and will allow the company to build further upon its research in EVs and become a bigger name in this growing market.

“The acquisition of the electrical vehicle charging business from Chargestorm AB will further expand our business and help us enter a new market that is rapidly growing,” said Jon Lind, chief executive at CTEK. “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 and facilities markets here in Scandinavia. We have proven capability and strong relationships with vehicle manufacturers that enables us to drive the development, manufacture and distribution of products and systems for electric vehicles on a global scale.”

“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,” added Lind.

“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 our resources to continue to push the boundaries of research and development to bring to the market new, exciting and innovative products,” said Tomas Wolf, chairman at Chargestorm.