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Wallbox Chargers
Wallbox Chargers was founded in 2015 in Barcelona by Enric Asunción and Eduard Castañeda, two engineers who previously worked together at a Spanish...
Wallbox Chargers
Wallbox Chargers was founded in 2015 in Barcelona by Enric Asunción and Eduard Castañeda, two engineers who previously worked together at a Spanish EV-sharing company. The firm designs, manufactures, and distributes smart electric-vehicle charging systems for residential, semi-public, and public use. Unlike infrastructure-heavy charge-point operators, Wallbox operates as an asset-light hardware and software company—its revenue comes from selling wall-mounted chargers and energy management software, not from owning and operating charging networks. The product line spans the Pulsar Plus for home use, the Commander 2 for shared parking, and the Supernova DC fast charger for public stations. Wallbox entered the North American market aggressively after its NYSE listing in 2021, opening a manufacturing plant in Arlington, Texas in 2022 to serve US customers under IRA-compliant assembly requirements. The company also operates a factory in Barcelona and a joint-venture facility in China. Software is a material part of the product: the myWallbox app manages scheduling, load balancing, and solar integration, and the platform includes bidirectional charging capability that lets vehicles feed power back to the home or grid. Revenue in fiscal year 2023 reached approximately €144 million, down from €160 million in 2022 as EV adoption growth slowed in core European markets (per the firm's full-year 2023 earnings, March 2024). The company has not yet reached profitability on a GAAP basis. In 2024, Wallbox completed a $45 million strategic investment round from Generac Power Systems, the Wisconsin-based backup-power manufacturer, alongside a commercial agreement to distribute Wallbox chargers through Generac's US dealer network (per Wallbox press release, July 2024). Wallbox's structural differentiator is its focus on bidirectional—or vehicle-to-grid and vehicle-to-home—charging technology. Its Quasar 2 charger was among the first residential DC bidirectional chargers to receive UL certification for the US market. While most EV-charger companies compete on hardware cost and installation scale, Wallbox is betting that energy-management software and grid-services capability will define the next phase of EV infrastructure. That thesis ties its fate less to pure EV unit sales than to utility-rate structures and home-electrification trends.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
Europe
Country
Spain
City
Barcelona
Corporate office
Barcelona, Spain
Additional offices
Madrid, Spain · Bilbao, Spain · Arlington, Virginia, United States · Shanghai, China
Principals
Enric Asunción
CEO & Co-Founder
Eduard Castañeda
CPO & Co-Founder
Sector focus
Frequently asked questions
Who runs investment and strategic decisions at Wallbox Chargers?
Enric Asunción serves as CEO and co-founder, leading corporate strategy and capital allocation. He co-founded the company with Eduard Castañeda, who serves as Chief Product Officer. Strategic investment decisions, such as the 2024 Generac partnership, are executed by the executive team under board oversight following the 2021 NYSE listing.
How does Wallbox Chargers make money—is it a charge-point operator or a hardware manufacturer?
Wallbox is primarily a hardware and software manufacturer, not a charge-point operator. Revenue comes from selling physical chargers and associated energy-management software to end users, installers, and fleet operators. The company does not own and operate public charging stations at scale; its asset-light model is closer to an industrial-technology company than an infrastructure utility.
Where does Wallbox manufacture its products, and how exposed is it to tariffs?
Wallbox operates factories in Barcelona, Spain, and Arlington, Texas, with additional production capacity through a joint venture in China. The Arlington plant, opened in 2022, was built partly to serve US customers under Inflation Reduction Act assembly requirements and to insulate North American sales from import tariffs on Chinese-made components.
What is Wallbox's relationship with Generac, and is Generac an acquirer or a strategic investor?
In July 2024, Generac Power Systems made a $45 million strategic minority investment in Wallbox and the two companies entered a commercial agreement to distribute Wallbox chargers through Generac's US installer and dealer network. Generac did not acquire a controlling stake; Wallbox remains an independent public company listed on the NYSE.
Does Wallbox participate in utility or fleet infrastructure RFPs, or is it focused on consumer sales?
Wallbox sells across residential, semi-public, and fleet channels. Its Supernova DC fast charger targets public and fleet depots, while the Pulsar Plus and Commander lines serve residential and multi-unit buildings. The company has pursued utility and government incentive programs in both Europe and North America, but its core distribution remains through electrical wholesalers, installers, and direct e-commerce.
What does bidirectional charging mean for Wallbox's competitive position?
Bidirectional charging allows an EV battery to discharge power back to a home or the grid. Wallbox's Quasar 2 was among the first residential DC bidirectional chargers to achieve UL certification for the US market. This capability positions the company to benefit if vehicle-to-grid energy services become a regulated revenue stream, though near-term adoption depends heavily on compatible vehicle models and local utility tariffs.
Is Wallbox profitable, and what is its cash position?
Wallbox has not yet achieved GAAP profitability. Full-year 2023 revenue was approximately €144 million, with an operating loss reflecting continued investment in R&D and geographic expansion. The company's cash position was bolstered by the July 2024 Generac investment, though it continues to operate with negative free cash flow as of the most recent reporting period (per firm filings, 2023–2024).
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