Lite-On Technology Corp (光寶科技) said yesterday that it has acquired a stake in Epyon Power, a Netherlands-based provider of intelligent charging solutions for electric vehicles.
Through its wholly owned subsidiary, Lite-On Clean Energy (光寶動力儲能科技), the parent company responded to a 7 million euro (US$9.78 million) fundraising effort by Epyon. Lite-On Technology declined to disclose its share in the investment or the size of the stake it purchased.
The acquisition makes Lite-On Technology one of three new Epyon shareholders, with the other two being Dutch investors. The three, along with the two existing shareholders, will be represented on Epyon’s supervisory board, the Dutch company said.
Lite-On Technology said Epyon Power, which specializes in fast-charging systems for electric vehicles, has set up a fast-charging beachhead in Europe and provides services across the European market.
Lite-On Technology said it would work with Epyon to develop fast-charging technology for electric vehicles with the aim of generating more revenue for the company.
“Epyon Power’s leading electric vehicle fast-charging technology, coupled with its unique value proposition in the electric vehicle market, is visionary and matches Lite-On’s long term strategy,” Lite-On Clean Energy chairman David Lin (林行憲) said. “Epyon Power’s geographic location will also help to develop Lite-On’s presence in Europe.”
The company will also join forces with Epyon to penetrate the Greater China area, Asia, Europe and the US, he said.
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