Third Quarter 2023 Highlights and Business Update:
- Generated revenue of €32.5 million.
- Delivered gross margins of 35%, a 530 basis point sequential improvement.
- Exceeded cost reduction targets in Q3 2023, driving almost €39 million in savings this year.
- Activated almost 50,000 AC chargers globally through distribution partners and installers in the third quarter of 2023, an increase of 30% as compared to the prior year period.
- Drove 285% unit growth and 350% revenue growth in DC public charging during the period, both on a year-over-year basis.
- Announced the acquisition of ABL GmbH (“ABL”), the market share leader in Germany, Europe’s largest EV market. ABL will enhance Wallbox’s competitive position and advance its anticipated path to profitability.
- Announced partnership with Kia America to deliver Wallbox’s bidirectional Quasar 2 alongside Kia’s new EV9 SUV in 2024.
