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Wallbox
Wallbox, founded in Barcelona in 2015, went public via NYSE SPAC at $1.5B valuation. Enric Asunción and Eduard Castañeda lead the EV charging manufacturer.
Wallbox
Wallbox launched in Barcelona in 2015, founded by Enric Asunción and Eduard Castañeda, a pair of engineers who previously built and sold a consumer-electronics manufacturing business. The company designs smart electric-vehicle charging systems for residential, business, and public use, with an early emphasis on bidirectional technology that allows an EV to send power back into a home or the grid. Wallbox's product line spans home chargers—notably the Pulsar Plus—to the Quasar 2 bidirectional unit and the Supernova public fast charger. The company operates direct sales in Europe and North America and has established a manufacturing footprint in Barcelona and a second facility in Arlington, Texas. In 2021, Wallbox merged with Kensington Capital Acquisition Corp. II to list on the New York Stock Exchange, raising roughly $330 million in gross proceeds to fund expansion (per Kensington Capital, October 2021). The company has since focused on scaling production and securing automotive partnerships, including a commercial relationship with Hyundai and Kia tied to bidirectional charging compatibility. The company reported approximately €147 million in revenue for the 2023 fiscal year and disclosed that it had shipped more than 350,000 chargers globally since inception (per the firm, March 2024). In January 2024, Wallbox announced a supply agreement with Costco to sell its home chargers through the retailer's U.S. locations. Its Texas factory, which opened in 2022, is central to capturing Inflation Reduction Act manufacturing incentives. Wallbox differs from pure-play EV-charger makers in its commitment to a silicon-first architecture that treats the charger as a modular computing platform, not a commodity electrician's install. The company's proprietary operating system manages firmware updates, energy scheduling, and grid services through a single software stack—a vertical integration model that contrasts with the fragmented supplier-and-installer ecosystem that dominates North America today.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
Europe
Country
Spain
City
Barcelona
Corporate office
Barcelona, Spain
Additional offices
Austin, Texas, United States
Principals
Enric Asunción
CEO and Co-Founder
Eduard Castañeda
CPO and Co-Founder
Sector focus
Frequently asked questions
What is Wallbox's core technology differentiation?
Wallbox designs bidirectional chargers that enable vehicle-to-grid and vehicle-to-home power flows, treating an electric vehicle as a distributed energy asset. Its in-house software stack, myWallbox, manages load balancing, solar integration, and remote firmware updates through a single platform. This vertical integration contrasts with competitors who rely on third-party apps or electrician-only configuration.
How did Wallbox become publicly traded?
Wallbox merged with Kensington Capital Acquisition Corp. II, a special-purpose acquisition company, and began trading on the New York Stock Exchange in October 2021 under the ticker WBX. The transaction implied a combined enterprise value of approximately $1.5 billion and raised roughly $330 million in gross proceeds (per Kensington Capital, October 2021).
Where does Wallbox manufacture its products?
Wallbox operates manufacturing facilities in Barcelona, Spain, and Arlington, Texas. The Texas factory opened in 2022 and allows Wallbox to serve North American demand while benefiting from U.S. clean-energy manufacturing incentives. The Barcelona facility handles European production and R&D prototyping.
Does Wallbox sell directly to consumers or through installers?
Wallbox sells through a hybrid model: direct-to-consumer via its website and retail partners including Costco, and through a network of certified electrician installers. Fleet and commercial customers purchase through a direct sales team, with installation typically managed by authorized partners in each region.
Who are Wallbox's automotive integration partners?
Wallbox has publicly disclosed a bidirectional charging collaboration with Hyundai and Kia, enabling their EVs to support vehicle-to-grid capability through the Quasar 2 charger. The company has stated it pursues additional OEM relationships, with product compatibility spanning most major plug-in vehicle standards including CCS and CHAdeMO.
What is Wallbox's presence in the U.S. market?
Wallbox entered the U.S. market with an office in Mountain View, California, later relocating its North American headquarters to Austin, Texas, alongside the Arlington factory. Its U.S. chargers are sold through Costco retail locations and a network of installers, with commercial deployments targeting fleets and workplace charging expanding since the 2021 SPAC listing.
What public company filings provide visibility into Wallbox's financials?
Wallbox reports quarterly and annual financial statements to the SEC as a foreign private issuer listed on the NYSE under ticker WBX. In its fiscal 2023 report, the company disclosed approximately €147 million in annual revenue and more than 350,000 cumulative charger shipments (per the firm, March 2024). These filings are available via the SEC's EDGAR system and Wallbox's investor relations page.
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