Texas-based Facility to Further Support
Domestic Sustainability and Infrastructure Goals
Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV)
charging and energy management solutions worldwide, today announced
the commencement of construction at its Arlington manufacturing
facility, the company’s first U.S.-based EV charger manufacturing
facility. The 130,000 square-foot high-tech plant is expected to
have enough capacity to fully support Wallbox's expansion plans in
North America over the next decade. This announcement comes on the
heels of the start of production at Wallbox's new state-of-the-art
factory in Barcelona, which began in December 2021 and will be
inaugurated later this month.
Investing approximately $11 million USD* into initial
construction, Wallbox is expecting to begin production within the
facility by early Fall 2022. Initial construction is planned to
allow the EV charger and energy management company to manufacture
over 250,000 units in 2022, and over 500,000 in 2025.
The facility will begin with production lines for Wallbox’s
Pulsar Plus AC chargers, its powerful best-selling home charger
that can charge any electric car on the market, including Teslas
with a converter. Production lines for Wallbox’s Quasar 2, its
next-generation bi-directional DC charger that enables your car to
power your home, Supernova, its fast public charger with 130kW
power, and Hypernova, its ultrafast public charger with between
150kW and 350kW of power, are anticipated to follow in 2023.
The U.S.-based facility will play a vital role in expanding the
company's presence in North America, a market that is making a big
push into automotive electrification with the Biden Administration
targeting 50% of all new car sales to be electric by 2030.
Expanding its U.S. presence is expected to allow Wallbox to improve
delivery time, reduce freight costs, and qualify for subsidies
offered by the U.S. government; all aspects that further allow
Wallbox to provide the best products for its customers. The new
facility is anticipated to create approximately 250 direct jobs in
the region by 2030. Wallbox also entered into partnerships with
U.S. suppliers, for the design and construction of the facility,
storage racking, and its new assembly line.
“With the U.S. undergoing a steady increase in demand toward
energy-friendly solutions due to the government’s aggressive EV
infrastructure targets, we are pleased to begin construction on our
factory that will be at the forefront of serving this rapidly
growing market,” said Douglas Alfaro, General Manager of North
America at Wallbox. “The U.S. factory is an exciting milestone that
allows us to expand our local footprint stateside, and we are
thrilled to begin construction in Arlington. The manufacturing
facility is expected to allow us to better meet the needs of our
American customers and support the nation's transition toward
electric mobility.”
Wallbox made the strategic decision to select Arlington, Texas
as the location of its first North American manufacturing hub for a
variety of factors including the city's position as a central
transit hub between the East and West coasts, its access to
cross-country highway corridors and central location to other major
cities in the region including Dallas and Fort Worth. The Arlington
facility is Wallbox's fourth manufacturing site, additive to two
facilities in Europe and one in China. Between all facilities,
Wallbox is expected to have a global production capacity of over
1.1 million chargers per year by the end of this year.
About Wallbox Chargers Wallbox is a global company,
dedicated to changing the way the world uses energy in the electric
vehicle industry. Wallbox creates smart charging systems that
combine innovative technology with outstanding design and manage
the communication between vehicle, grid, building and charger.
Wallbox offers a complete portfolio of charging and energy
management solutions for residential, semi-public and public use in
98 countries. Founded in 2015, with headquarters in Barcelona,
Wallbox’s mission is to facilitate the adoption of electric
vehicles today to make more sustainable use of energy tomorrow. The
company employs over 900 people in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Wallbox Forward-Looking Statements This press release
includes "forward-looking statements" within the meaning of Section
27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements contained in this
press release that do not relate to matters of historical fact
should be considered forward-looking statements, including, without
limitation, statements regarding the features of Wallbox’s
products. Wallbox’s manufacturing capacity, future expansion,
future partnerships, and expected benefits from the Arlington
Facility. In some cases, you can identify forward-looking
statements by terminology such as "anticipate," "believe," "may,"
"can," "should," "could," "might," "plan," "possible," "project,"
"strive," "budget," "forecast," "expect," "intend," "will,"
"estimate," "predict," "potential," "continue" or the negatives of
these terms or variations of them or similar terminology, but the
absence of these words does not mean that statement is not
forward-looking. Such forward-looking statements are subject to
risks, uncertainties, and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward looking statements. In addition, any statements or
information that refer to expectations, beliefs, plans,
projections, objectives, performance or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking.
These forward-looking statements are based on management’s
current expectations and beliefs. These statements are neither
promises nor guarantees, but involve known and unknown risks,
uncertainties and other important factors that may cause Wallbox’s
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; Wallbox’s reliance on the
third-parties outside of its control; risks related to Wallbox’s
technology, intellectual property and infrastructure; and other
important factors discussed under the caption "Risk Factors" in
Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on
November 12, 2021, as such factors may be updated from time to time
in its other filings with 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.
These and other important factors could cause actual results to
differ materially from those indicated by the forward-looking
statements made in 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.
*investment figures have been translated at a EUR/USD rate of
1.091, according to the spot rate on April 6, 2022
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version on businesswire.com: https://www.businesswire.com/news/home/20220411005301/en/
Wallbox Public Relations: Colleen Robar
crobar@robarpr.com +1 313-207-5960
Wallbox Investors: Matt Tractenberg VP, Investor
Relations Matt.Tractenberg@wallbox.com +1 404-574-1504
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