Wallbox Receives $5.2M Tax Credit from U.S. Department of Energy, Plans to Produce Over 1M EV Chargers Annually by 2030; Stock Up 2.2% – Check It Now!

U.S. Department of Energy Awards Wallbox $5.2M Tax Credit for EV Charger Expansion in Arlington, Texas

Wallbox Receives $5.2M Tax Credit from U.S. Department of Energy to Scale Up EV Charger Production in Arlington, Texas

Wallbox received a $5.2 million tax credit cfrom the U.S. Department of Energy through the 48C qualifying advanced energy tax credit program. The funds will aid in expanding its main factory in Arlington, Texas, where chargers for electric cars are produced. This supports Wallbox’s efforts to meet the increasing demand for electric vehicles in the U.S., according to the published article of Seeking Alpha.

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(photo: NREL)

U.S. Department of Energy Backs Wallbox’s Vision

By the year 2030, the Arlington factory plans to make over 1 million chargers every year. This will support the country’s goals for clean energy and transportation. It means more Americans can use electric cars without worrying about where to charge them.

The Department of Energy looked at many applications and decided Wallbox’s project was the best. They thought it would help the most in making clean energy more available. Because of this news, Wallbox’s stock price went up by 2.2% before regular trading hours on Tuesday. It shows that investors think Wallbox is doing something good for the environment.

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