Two larger names in energy systems management have come together in a new deal that entails industry veteran Generac making a minority investment in Wallbox – a global yet growing supplier of EV chargers. Through the agreement, Generac will offer US customer’s Wallbox’s full lineup of charging solutions, including its bidirectional home DC unit.
Wallbox ($WBX) Spanish developer of “advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network.” During its nearly nine-year tenure, the company has developed and delivered a suite of residential, commercial, and public EV charging solutions available in over 100 different countries.
In addition to EV chargers, Wallbox offers its customers energy management solutions, including its Power Boost dynamic load balancing system and Eco Smart, which enables solar EV charging at home.
As consumers and commercial fleets alike transition into electric mobility, the need to bolster and electrify existing infrastructure has never been more crucial. Generac agrees. While Wallbox is a seasoned developer in EV chargers, Generac Power Systems, Inc. ($GNRC) is approaching 65 years in energy technology, having introduced the first affordable backup generator in the 1960s.
Looking ahead, the industry veteran is committed to revolutionizing energy and grid management using more sustainable products and has taken a minority stake in Wallbox to share its EV chargers with its customer base.
Generac joins Wallbox board and will sell its EV chargers
Per Wallbox, Generac has made a minority investment in the company, which includes a seat on Wallbox’s board of directors.
Furthermore, the two companies have signed a global commercial agreement in which Generac will offer Wallbox’s EV chargers to its residential and commercial customers. This includes Wallbox’s Quasar 2 bidirectional home charger seen above.
Generac’s investment in Wallbox is part of its “Powering a Smarter World” strategy that includes adding new products, customers, and markets to reduce costs and promote sustainability. The company has acquired 15 different energy companies since 2017 to help transition into the new age of clean energy and EV chargers. With its minority stake, Generac adds Wallbox as the latest to the family. Per Generac president and CEO Aaron Jagdfeld:
This commercial relationship supports our Powering A Smarter World enterprise strategy and the continued build out of our residential, commercial and industrial energy ecosystems. Our first joint effort will accelerate Generac’s entrance into EV charging with leading technology including a dual branded home bidirectional EV charger. We plan to continue to integrate across Wallbox and Generac technologies and leverage our collective brand strength to extend a broader line of residential and business solutions.
Generac is currently responsible for a network of over 8,700 dealers across the US alone and will now help distribute Wallbox EV chargers and its adjacent technologies, as well as installation services through COIL. Wallbox co-founder and CEO Enric Asunción also spoke:
We believe the commercial relationship between Wallbox and Generac supports our joint vision of accelerating the energy transition through innovative and accessible energy solutions. Adding Generac, the market leader in U.S. residential standby power, to our growing distribution network will provide a level of accessibility that does not exist in the marketplace today. We’re excited to welcome them as a collaborator and investor, and look forward to delivering increased value to customers and shareholders.
The companies will initially target businesses that offer public access, such as supermarkets, shopping centers, and restaurants to provide them with EV fast chargers.
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On today’s informative episode of Quick Charge, we’ve got Honda engineers Jason Hwang and Emilio Sanchez to talk us through some of the things that make the GM Ultium-based Honda Prologue EV feel like a real Honda, and why that matters.
Jason and Emilio talk about some of the choices they made to make the Honda Prologue and Acura ZDX feel different from its GM-branded cousins, and explain why this was much more than a case of badge-engineering. Give it a listen, then let us know what you think of the Prologue and ZDX in the comments.
Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations site wide. Learn more by clicking here.
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The first EV charging hub funded by the Charging and Fueling Infrastructure (CFI) Program in the Eastern US is now online in Deerfield, Massachusetts.
The town installed the region’s first DC fast chargers (four ports), along with four Level 2 chargers, at 59 North Main Street in South Deerfield.
These new charging stations, funded with $2.46 million from the CFI program, are conveniently located near Interstate 91 in Franklin County, the most rural county in Massachusetts, which serves drivers from Connecticut up to the Canadian border.
The hub also features local and regional bus stops and designated bike lanes with secure onsite bike racks. The chargers are meant to cater to everyone: from local residents and visitors to municipal EVs and commercial vehicles that service the region’s businesses, like those in food and beverage manufacturing.
Gabe Klein, executive director of the Joint Office of Energy and Transportation, sees this as a model for future projects:
Multi-modal charging hubs in communities are key to giving more people the choice to ride and drive electric. The Town of Deerfield is showing leadership in building out convenient charging infrastructure that brings new transportation choices to rural and disadvantaged communities while supporting local commerce.
In recent years, Deerfield has experienced increased climate change-driven flooding from nearby rivers, including the Deerfield River, the Connecticut River, and the Bloody Brook. The project incorporates environmental engineering designed to mitigate and adapt to the effects of flooding and climate, including the installation of permeable asphalt and rain gardens, planting of native trees, grasses, and shrubs, and the creation of new greenspace in the center of Deerfield.
The Biden-Harris administration’s CFI Grant Program is expanding EV infrastructure nationwide. It offers grants for projects that complement and expand upon the initiatives of the NEVI program in urban, rural, and disadvantaged and low-income communities. So far, the CFI Grant Program has allocated over $1 billion to nearly 100 projects across the US, encouraging private investments and expanding the EV charging network to make EV ownership more practical and convenient.
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Kia’s upcoming EV4 electric sedan was just spotted testing in the US for the first time. The low-cost EV is expected to make its big debut by the end of the year. Here’s a look at the new model.
The EV4 will round out Kia’s new “EVs for all” master plan launched last year. Kia showcased three new models, the EV3, EV4, and EV5, during its first annual EV Day in October 2023.
During the event, Kia outlined its new global strategy to “lead and accelerate the EV revolution” with a wide range of models priced from $30,000 to $80,000.
Kia plans to rapidly expand its lineup with a series of smaller, lower-priced models. It launched the EV9, its first three-row electric SUV, which is already proving to be a hot seller in the US. Starting at under $55,000, the EV9 is still a great deal compared to others in its class, but Kia plans to go even lower.
The EV3 and EV4 are expected to be among the most affordable electric vehicles when they arrive in the US.
Kia’s new EV4 is now testing in the US
Ahead of its official debut, Kia’s new EV4 sedan was recently caught driving on US streets for the first time.
The latest image from KindelAuto doesn’t reveal much more than what’s been shown in the past, but the fact that it’s now testing in the US is significant.
Kia’s EV3 is already on sale in Korea, starting at around $30,000 (42.08 million won). Earlier this week, the company said its new compact SUV is now available across Europe, starting at around $38,000 (36,000 euros) with a “segment-leading range” of up to 375 miles (WLTP).
Next up will be the EV4. Kia is expected to officially reveal the new EV by the end of the year, with deliveries starting in 2025. It could be as soon as next week at the 2024 LA Auto Show.
The interior will feature Kia’s advanced new ccNC infotainment system with dual 12.3″ navigation and driver display screens. An otherwise minalimalistic design is expected inside.
Kia’s EV4 will also be available in a hatchback variant. Although the hatch is likely aimed at European buyers, it was also recently spotted testing in the US for the first time.
We will learn official prices closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Kia is teasing five new vehicles for the US, at least one being a new EV, that will debut at the LA Auto Show next week. Will it be the EV3? EV4?
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