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BARCELONA - Wallbox (NYSE:WBX), a global provider of electric vehicle (EV) charging solutions with annual revenues of $169.8 million and 14% year-over-year growth, announced the pre-order availability of its latest bi-directional charger, the Quasar 2, exclusively for eligible Kia EV9 owners and lessees. According to InvestingPro data, the company’s stock is currently trading near its 52-week low, suggesting potential opportunity for investors interested in the EV infrastructure sector. This advanced charging system, complemented by the Wallbox Power Recovery Unit, enables the use of the vehicle as a power source for homes, potentially sustaining power for up to three days during outages, based on certain conditions.
The Quasar 2 charger offers up to 12 kW of power, supporting fast EV charging and discharging, and is designed to be compact and lightweight for convenient installation. It incorporates Vehicle-to-Home (V2H) functionality, allowing the EV to supply electricity to a residence. The system also integrates solar charging capabilities, although this feature requires additional equipment and a compatible solar setup.
Priced from $6,440, excluding taxes and installation fees, the Quasar 2 and Power Recovery Unit require a $100 deposit to join the waitlist, with limited quantities available for pre-order. Customers on the pre-order list will be prioritized for the initial limited release. The initial pre-order phase is restricted to residents of select states, including California, Texas, Florida, New York, Washington, New Jersey, and Illinois, with plans for a subsequent nationwide rollout.
Installation of the Quasar 2 and associated Power Recovery Unit is subject to various conditions, including the need for permits, utility approvals, and professional assessment of the home’s electrical system. Wallbox recommends installation through COIL Inc., its official installation provider, to ensure safety and quality standards. With the company’s next earnings report scheduled for March 21, 2025, InvestingPro subscribers can access comprehensive analysis and 12 additional ProTips to better understand the company’s financial health and growth prospects.
This announcement is based on a press release statement from Wallbox. It should be noted that the ability to use the Quasar 2 and Power Recovery Unit is contingent on compatibility with the home and vehicle, and it may not be permitted in all jurisdictions without necessary approvals. The effectiveness of the backup power feature is influenced by factors such as home energy usage, battery charge levels, and the electrical setup of the residence. While analyst price targets range from $0.50 to $2.00 per share, investors seeking detailed valuation analysis and growth projections can access the comprehensive Pro Research Report available on InvestingPro, which covers this and over 1,400 other US stocks.
In other recent news, Wallbox NV reported a mixed performance for the fiscal year 2024. The company experienced a 14% year-over-year increase in full-year revenue, reaching approximately €162 million. However, the fourth quarter saw a 14% decline in revenue compared to the previous year, with gross margins falling short of the target range at 34.6%. Despite these setbacks, Wallbox improved its adjusted EBITDA by 21% year-over-year, although it remained negative. Analysts from Canaccord Genuity responded to these earnings by lowering their price target for Wallbox shares from $1.50 to $1, while maintaining a Buy rating. They expressed optimism about Wallbox’s potential to benefit from a rebound in electric vehicle demand, supported by strategic partnerships and anticipated growth in commercial charger installations. Stifel analysts also adjusted their financial projections for Wallbox, incorporating a 14% weighted average cost of capital in their analysis. These developments highlight Wallbox’s ongoing efforts to navigate market challenges and capitalize on industry trends.
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