Iberdrola invests in electric vehicle charging company Wallbox
Wallbox has completed a 15 million euro ($17 million) funding round led by Iberdrola through its Perseo start-up programme which will enable it to expand globally.
LONDON: Spanish utility Iberdrola has invested an undisclosed sum in Spanish electric vehicle charging company Wallbox, the company said on Tuesday.
Wallbox has completed a 15 million euro ($17 million) funding round led by Iberdrola through its Perseo start-up programme which will enable it to expand globally, Iberdrola said in a statement.
The funding round was led by Iberdrola and further capital provided by new investors and existing partners. Several European utilities are acquiring or investing in electric vehicle charging companies as carmakers introduce a greater variety of plug-in electric and hybrid models.
“As Iberdrola continues to invest in customer solutions for electric vehicles, as well as the smart grids and green energy needed to support them, we envisage a range of new partnerships being created in the coming years,” Diego Diaz Pilas, head of new ventures and technology prospects at Iberdrola, said.
Source: auto.economictimes.indiatimes
