Wallbox Secures $5.2 Million Tax Credit

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Wallbox, a prominent player in the electric vehicle (EV) charging sector, recently received a substantial financial boost with a $5.2 million tax credit from the U.S. Department of Energy (DOE). This funding, part of the 48C Qualifying Advanced Energy Tax Credit Program, is set to expand the capabilities of Wallbox’s major manufacturing site in Arlington, Texas. This initiative underscores a significant enhancement in Wallbox’s U.S. production of EV charging systems, highlighting its commitment to the clean energy sector.

Key Highlights:

  • Award Amount: Wallbox has been granted a $5.2 million tax credit to augment its manufacturing facility.
  • Program Details: The tax credit is part of the 48C program, amplified by the Inflation Reduction Act, focusing on investments in clean energy manufacturing.
  • Facility Expansion: The Arlington site will see the addition of new assembly lines and a cutting-edge validation lab.
  • Production Capacity: By 2030, the Arlington factory is expected to produce over 1 million chargers annually.
  • Company Growth: The funding will bolster Wallbox’s position in the North American market, introducing advanced products like the Quasar 2 and Supernova 180 DC fast chargers.

“We are honored to be selected for the highly competitive 48C tax credit, which will enable us to make further investments in our U.S. manufacturing capabilities and deliver Wallbox’s best-in-class EV charging solutions which underpin the transition to electrified transportation,” stated Enric Asunción, CEO and cofounder of Wallbox. “This support from the Department of Energy and IRS affirms Wallbox’s commitment to expanding our American presence, fostering clean manufacturing jobs, and advancing our collective clean energy future.”

The expansion includes multiple new EVSE assembly lines and a state-of-the-art validation lab within the 150,000-square-foot factory. This development is crucial for Wallbox to scale up production to meet growing demands, particularly in North America, where it plans to offer a comprehensive suite of charging solutions.

This award not only promotes Wallbox’s growth but also aligns with U.S. objectives for clean energy and sustainable transportation infrastructure. The selection process for the 48C tax credit was intensely competitive, with more applicants than available funds, showcasing the significance of Wallbox’s project in the clean energy landscape.

About Wallbox:

Founded in 2015 and headquartered in Barcelona, Wallbox operates globally, providing innovative electric vehicle charging and energy management solutions. Its products are designed to enhance the interaction between users and the electrical grid, offering cost-effective and sustainable options. Wallbox serves a wide range of markets, including residential and commercial sectors, across more than 100 countries.

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