Wallbox, an EV charging and power management services provider based in Europe, announced the acquisition of COIL, an EV charging development services provider in the United States.
Barcelona-based Wallbox did not reveal financial details of the deal to buy the EV charging development company.
Wallbox recently announced new warehouse facilities across the US and Canada. Wallbox will also start production at its factory in Arlington, Texas this fall.
The acquisition will enable Wallbox to provide a single point of contact for EV installing and maintaining services to key partners in North America, such as Auto OEMs, Utilities, and Dealerships.
Douglas Alfaro, General Manager North America at Wallbox, said: “This acquisition allows us to further enhance our service offerings to our customers in residential and commercial settings, while also expanding into the DC Fast Charging installation market.”
Wallbox claims that its smart charging solutions combine new technology with better design and handle car, grid, building, and charger communication. Wallbox, a leading company in the Electric Vehicle business, offers charging and power management services in over 100 countries.
Meanwhile, Wallbox has generated record revenues of €39.5 million (+124 percent) in the second quarter of 2022 and achieved gross margins of 41.1 percent. Wallbox sold almost 64,000 chargers, a 95 percent increase compared to the second quarter of 2021.
Wallbox aims to promote electric car adoption for more sustainable energy consumption. Wallbox has 1,100 employees in Asia, Europe, and the Americas.