Wallbox chooses Texas for the first US charger manufacturing plant

Wallbox, the builder of electric vehicle charging stations, and which is expected to be made public through a merger with Special Purpose Acquisition Company (SPAC) Kensington Capital Acquisition Corp. II KCAC,
+ 0.30%,
said it has selected Arlington, Texas, for its first U.S. manufacturing plant. The company expects the 130,000 facilities, which will create 250 jobs, to begin production of its Pulsar Plus AC chargers as early as June 2022 and is expected to begin production of the Quasar DC directional charger and the fast DC charger for public use. the first half of 2023. Wallbox expects the facility to reach its maximum capacity of 500,000 recharging units by 2030. The company currently has two manufacturing facilities in Europe and one in China. “The U.S. auto and power markets are at a turning point,” said Enric Asuncion, chief executive. “Because automation electrification will accelerate significantly due to initiatives aimed at achieving aggressive greenhouse gas emission targets, which will significantly increase the demand for our electric vehicle recharging and vehicle management solutions. ‘energy’. Shares of Kensington Capital rose 0.3% in premarket trading, down 0.3% over the past three months to Tuesday, while the S&P 500 SPX,
-0.13%
has gained 7.6%.

Credit – https://www.marketwatch.com/story/wallbox-picks-texas-for-site-of-first-us-ev-charger-manufacturing-facility-2021-09-01