Wallbox Purchases ABL, a German EV Charging Provider, to Enhance Position in Key Markets.
MANews-(C)2009-2023
Spain-based electric vehicle charging and energy management solutions provider Wallbox (NYSE: WBX) has acquired the operations and assets of German EV charging solutions provider ABL GmbH for approximately EUR 15m (USD 15.8m), the company said.
Wallbox will pay approximately EUR 15m (USD 15.8m) for the operations and assets of ABL, which includes two automated manufacturing locations (Germany and Morocco), inventory, intellectual property, brands, and certifications. EUR 10m (USD 10.5m) of this consideration will be paid at closing, and the remaining EUR 5m (USD 5.25) payment will occur in 2024.
Wallbox and ABL have a combined number of over 1 m EV chargers installed worldwide.
ABL will accelerate Wallbox's ability to meet new market...
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