Wallbox Group Surpasses One Million EV Chargers Sold

Rhea-AI Summary

Wallbox (NYSE: WBX), a leading provider of EV charging solutions, has surpassed one million EV chargers sold worldwide as of Q2 2024, including ABL's sales. This milestone follows the successful introduction of new products, such as ABL's EM4 internationally and the Supernova 180 and Pulsar Pro in North America. CEO Enric Asuncion emphasized the achievement's significance in accelerating global electric mobility transition.

The company has strengthened its portfolio, particularly in commercial offerings, through new product launches and strategic integrations across the Wallbox Group. This expansion aims to meet the growing demand for innovative, high-quality charging solutions supporting a sustainable future. Wallbox continues to lead in providing EV charging solutions for residential, commercial, and fast-charging applications.

Positive

• Reached milestone of 1 million EV chargers sold worldwide
• Successful introduction of new products in international markets
• Strengthened commercial offering through product launches and integrations
• Expanded portfolio to meet growing demand for innovative charging solutions

Negative

• None.

Insights

EV Industry Analyst

Surpassing 1 million EV chargers sold is a significant milestone for Wallbox, demonstrating strong market penetration and growing demand for EV charging infrastructure. The company's diverse portfolio, including residential, commercial and fast-charging solutions, positions it well in the rapidly expanding EV market.

The integration of ABL's products and the launch of new offerings like Supernova 180 and Pulsar Pro in North America show Wallbox's commitment to innovation and market expansion. This strategic diversification could help mitigate risks associated with regional market fluctuations.

However, investors should consider the intense competition in the EV charging space and potential margin pressures as the industry scales. Wallbox's ability to maintain technological edge and cost-effectiveness will be important for long-term success in this high-growth but increasingly crowded market.

Financial Analyst

While the 1 million charger milestone is impressive, the lack of specific financial figures in this announcement limits its direct impact on valuation models. Investors should look for upcoming earnings reports to gauge how this sales volume translates into revenue growth and profitability.

With a current market cap of $246,603,653, Wallbox is still considered a small-cap stock in the EV infrastructure space. The company's ability to scale operations efficiently while managing cash flow will be critical. The expansion of product lines and market reach could potentially lead to increased capital expenditures in the short term, which may impact profitability.

Long-term investors should monitor Wallbox's market share growth, gross margins and the rate of EV adoption in key markets to assess the company's future financial performance and investment potential.

BARCELONA, Spain--(BUSINESS WIRE)-- Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging solutions, today announced that the Wallbox Group had surpassed the milestone of one million EV chargers sold worldwide as of the end of Q2 2024. This accumulated figure includes ABL’s EV charger sales.

The news follows the positive reception of the company’s growing portfolio, which includes the introduction of ABL’s EM4 into the group's international offering, as well as the launch of the Supernova 180 and Pulsar Pro into the North American market.

“Surpassing the milestone of 1 million EV chargers sold is a testament to the strength of the Wallbox Group and our commitment to accelerating the global transition to electric mobility by delivering best-in-class hardware to our customers,” said Enric Asuncion, CEO and co-founder of Wallbox. “Over the past year we have continued to strengthen our portfolio, particularly our commercial offering, through the introduction of new products and strategic integrations across the Wallbox Group, to ensure we continue to offer innovative, high-quality charging solutions that meet the demands of a sustainable future.”

With over 1 million chargers sold globally, Wallbox continues to lead in providing EV charging solutions tailored for residential, commercial, and fast-charging applications, advancing the global transition to sustainable energy.

About Wallbox:

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 115 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," ""target," will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading "Risk Factors" in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241022007825/en/

Elyce Behrsin

Head of Public Relations, Wallbox

press@wallbox.com

Source: Wallbox

FAQ

How many EV chargers has Wallbox (WBX) sold worldwide?

Wallbox (WBX) has surpassed one million EV chargers sold worldwide as of the end of Q2 2024, including ABL's EV charger sales.

What new products has Wallbox (WBX) recently introduced?

Wallbox (WBX) has recently introduced ABL's EM4 into its international offering, and launched the Supernova 180 and Pulsar Pro in the North American market.

What types of EV charging solutions does Wallbox (WBX) provide?

Wallbox (WBX) provides EV charging solutions for residential, commercial, and fast-charging applications, advancing the global transition to sustainable energy.

Who is the CEO of Wallbox (WBX)?

The CEO and co-founder of Wallbox (WBX) is Enric Asuncion.