ChargePoint (NYSE: CHPT), a leading provider of networked
charging solutions for electric vehicles (EVs), and AcBel Polytech
Inc. (“AcBel”) (TWSE:6282), a leading power supply manufacturer
under Kinpo Group, today announced an agreement to jointly develop
EV charging solutions. AcBel will begin to co-design hardware for
ChargePoint’s portfolio of EV charging solutions - bringing
products to market faster and at a lower cost, while maintaining
ChargePoint’s high quality and reliability standards.
The agreement expands ChargePoint’s existing manufacturing
agreement with AcBel. By combining AcBel’s 40 years of expertise in
power design and Kinpo's electronic manufacturing capabilities,
ChargePoint believes the partnership will bolster its research and
development capabilities, enabling it to bring new products to
market faster and at a lower cost. By harmonizing the processes of
engineering, design, development and production with AcBel and
Kinpo, ChargePoint will have an end-to-end solution enabling
ChargePoint’s engineering team to focus on future innovation.
“This collaboration with AcBel represents a significant
milestone in the evolution of our product development strategy, and
is a key component of our focus on execution and operational
excellence,” said Rick Wilmer, CEO of ChargePoint. “With Kinpo
Group, we have a trusted manufacturing partner, and now with this
expanded partnership we have a development partner who we believe
will enable us to bring our portfolio of world-class EV charging
solutions to market faster while driving significant product cost
and operating expense savings - all with no compromises to our
leading quality, reliability, and durability standards.”
Jerry Hsu, Chairman of AcBel, stated, “This year marks a year of
transformation for AcBel. The collaboration with ChargePoint not
only demonstrates AcBel’s expertise in design for EV business, but
also shows a great example of utilizing our group resources from
different aspects. Furthermore, this is just the beginning, and
there will be more projects and cooperation among AcBel, Kinpo and
ChargePoint.”
Andrew Chen, CEO and General Manager of Kinpo Group, commented,
"Combining Kinpo's communication and automation production
technology with AcBel's power design capabilities and ChargePoint's
market-leading position, we believe this strong alliance will
significantly increase Kinpo Group's activity in the EV charging
market."
Forward-Looking Statement
This release includes forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995
relating to, among other things, the benefits ChargePoint expects
to derive from its manufacturing and design agreements with AcBel
and Kinpo, including with respect to the speed with which
ChargePoint may be able to bring new products to market or any
expected product and expense savings. Forward-looking statements
include statements regarding ChargePoint’s expectations, beliefs,
intentions or strategies regarding the future, and can be
identified by forward-looking words such as “anticipate,”
“believe,” “could,” “continue,” “estimate,” “expect,” “intend,”
“may,” “should,” “will” and “would” or similar words. These
forward-looking statements involve risks, uncertainties, and
assumptions, including risks and uncertainties included in the
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections in
ChargePoint’s Form 10-Q filed with the Securities and Exchange
Commission (“SEC”) on December 8, 2023, which is available on
ChargePoint’s website at investors.chargepoint.com and on the SEC’s
website at www.sec.gov. Additional information will also be set
forth in other filings that ChargePoint makes with the SEC from
time to time. Forward-looking statements are not guarantees of
future performance and actual results could differ materially from
those expressed or implied by the statements made herein. All
forward-looking statements in this press release are based on
information available as of the date hereof and ChargePoint assumes
no obligation to revise or update any forward-looking statements
for any reason, except as required by law.
About ChargePoint Holdings, Inc.
ChargePoint is creating a new fueling network to move people and
goods on electricity. Since 2007, ChargePoint has been committed to
making it easy for businesses and drivers to go electric with one
of the largest EV charging networks and a comprehensive portfolio
of charging solutions. The ChargePoint cloud subscription platform
and software-defined charging hardware are designed to include
options for every charging scenario from home and multifamily to
workplace, parking, hospitality, retail and transport fleets of all
types. Today, one ChargePoint account provides access to
hundreds-of-thousands of places to charge in North America and
Europe. For more information, visit the ChargePoint pressroom, the
ChargePoint Investor Relations site, or contact the ChargePoint
North American or European press offices or Investor Relations.
About AcBel Polytech
AcBel is a leading provider of switching power supply solutions
for a wide range of applications including PCs, smart home
appliances, smartphones, servers, and networking equipment. In
recent years, AcBel also accelerated its investment in clean and
efficient energy solutions for electric vehicles and solar farms,
which has enabled AcBel to become a comprehensive power technology
expert from power generation and energy storage to high-efficiency
power supplies. The company’s mission is to support customers by
delivering a competitive edge and revealing new opportunities in
today’s smart, always power-available, and data-intensive world
while promoting sustainable collaboration with the supply chain,
strategic partners, and customers. www.acbel.com
About Kinpo Group
Kinpo Electronics was founded in 1973, through nearly 50 years
of development, the KINPO GROUP currently owns 4 companies, 24
production bases, and more than 50,000 employees worldwide. The
group's businesses range from semiconductors, consumer electronics,
smart home appliances, network communications, smart retail,
wearable devices, and digital platforms to industrial Internet of
Things. With accumulated 50 years of lean supply chain and
automated production technology, we can produce the highest quality
products at the lowest costs. The group's excellent management
experience of the Thai production base, through remote situation
rooms plus real-time monitoring systems, Kinpo's sales, business,
R&D, and manufacturing units can cross the boundary of time and
space, giving the team full strength to tackle early risk warnings
and effectively control production and shipping processes.
Combining the vertical integration advantages of the factories in
our group, Kinpo provides customers with the most complete
manufacturing solutions. The group pays detailed attention to
initial R&D, design, prototyping, new product introduction,
manufacturing, after-sales services, and on-time delivery. Through
the overall supply chain and the manufacturing system composed of
internal suppliers, Kinpo holds the mission to help customers
reduce production costs and bring products to the market as early
as possible. www.kinpo.com.tw
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version on businesswire.com: https://www.businesswire.com/news/home/20240220351690/en/
ChargePoint John Paolo Canton Vice President,
Communications JP.Canton@chargepoint.com media@chargepoint.com
Patrick Hamer Vice President, Capital Markets and Investor
Relations Patrick.Hamer@chargepoint.com
investors@chargepoint.com
ChargePoint (NYSE:CHPT)
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