BARCELONA - Wallbox (NYSE:WBX) Chargers, known for its electric vehicle charging and energy management solutions, has expanded its Supernova product line with the launch of Supernova 220, a new DC fast charger. The Supernova 220 is designed to deliver up to 220 kW of power, enabling electric vehicles (EVs) to gain 100 miles of charge in an estimated eight minutes.
The company has reportedly sold over 2,000 DC fast chargers across more than 30 countries. The addition of the Supernova 220 aims to provide charge point operators (CPOs) with a wider range of power options, designed to enhance their EV charging networks without sacrificing reliability or user experience.
The Supernova 220 maintains the same size as previous models but stands out as the most powerful, capable of charging one EV at the full 220 kW or two EVs simultaneously at 110 kW each. This model is touted to have one of the highest power-to-footprint ratios in its market segment, occupying just 3.48 square feet.
Till Wilmschen, Director of DC fast charging at Wallbox, stated that the Supernova 220 addresses the current need for High Power Charging sites, catering to both passenger EVs and high power demands at various sites, including those for fleets and heavy-duty vehicles.
The product is designed to be fully compliant with the latest AFIR regulations without additional accessories, due to its metering windows displayed below the touchscreen. Its design, which allows for custom branding, has been recognized with awards and is deemed suitable for highly visible public locations.
Wallbox emphasizes its commitment to making EV charging simple and accessible, offering solutions that span a range of locations. The company, founded in 2015 and headquartered in Barcelona, operates globally, with a portfolio that includes charging and energy management solutions for residential, semi-public, and public use in over 100 countries.
The press release indicates that the Supernova 220 is currently not available for purchase in North America. Wallbox's announcement is based on a press release statement.
In other recent news, Wallbox, a leader in electric vehicle charging solutions, has demonstrated significant growth and strategic advancements. Following its acquisition of ABL, a German counterpart in the EV charging sector, Wallbox reported key strategic milestones. The collaboration has resulted in new product offerings, notably the ABL Pulsar, tailored to the German home-charging market, and the eM4, an ABL-designed charger for commercial spaces, introduced across Europe.
In the first quarter of 2024, Wallbox reported a substantial revenue increase of 23% year-over-year, amounting to €43.1 million. The company also improved its financial performance, with gross margins at 39.6% and a narrowed adjusted EBITDA loss of €13.5 million. Wallbox's recent developments also include co-developing a Supernova fast charger for public use in Germany with ABL, expected to launch later this year.
Furthermore, Wallbox and ABL have unified their sales strategy in the DACH region, leveraging their combined portfolio to meet a wide array of market needs. This collaboration signifies ongoing consolidations within the EV charging industry.
InvestingPro Insights
Wallbox Chargers (WBX) has recently made headlines with its innovative Supernova 220 charger, but what does the financial data say about the company's performance? According to InvestingPro data, Wallbox has a market capitalization of $258.27 million and a revenue of $158.72 million over the last twelve months as of Q4 2023. Despite the company's efforts to innovate and expand its product line, they have faced challenges, as evidenced by a revenue decline of 0.29% during the same period.
One of the notable InvestingPro Tips for Wallbox is that analysts do not anticipate the company will be profitable this year, which aligns with its negative P/E ratio of -1.92, indicating that investors are not expecting earnings growth in the near term. Additionally, the company's stock price has experienced significant volatility, with a 1-month price total return of -21.79% as of this year, reflecting investor sentiment and market conditions.
For investors and stakeholders interested in a deeper analysis, InvestingPro offers a wealth of additional tips for Wallbox, with 13 more insights available that could help in making informed decisions. By using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to in-depth metrics and expert analysis.
While the company trades near its 52-week low, this could be a pivotal moment for potential investors to consider the future prospects of Wallbox, especially as the EV market continues to grow. The company's product innovations, such as the Supernova 220, may contribute to future sales growth, an aspect highlighted by another InvestingPro Tip. With the EV charging infrastructure market rapidly evolving, Wallbox's strategic moves could position it favorably in the long run.
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