Generac Expands Energy System Offerings with Level 2 EV Charger
Rhea-AI Summary
Generac Power Systems (NYSE: GNRC) has launched its first electric vehicle (EV) charger, a level 2 charger designed for homes and businesses. This move expands Generac's energy management portfolio and aligns with the growing U.S. EV market, projected to reach over 11% market share in 2024. The Wi-Fi and Bluetooth-enabled charger offers remote monitoring and management through the Generac EV Charging app, features five charging modes, and comes with a three-year warranty. It's up to 8X faster than a L1 charger and allows power-sharing between multiple chargers on the same circuit. The product is available through Generac certified dealers, Amazon, and other retailers nationwide.
Positive
- Expansion into the growing EV charging market
- Leveraging existing network of 9,000 certified North American dealers
- New product is 8X faster than L1 chargers
- Wi-Fi and Bluetooth connectivity for remote management
- Multiple distribution channels including Amazon and certified dealers
Negative
- None.
News Market Reaction – GNRC
On the day this news was published, GNRC gained 0.57%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Advanced EV Charging Solution Supports Growing U.S. Market
"Generac's expansion into the EV charging market shows our dedication to advancement in energy management," said Kyle Raabe, executive vice president of Consumer Power at Generac. "With our extensive background in energy solutions and a network of nearly 9,000 certified North American dealers, we're poised to deliver an EV charging solution that sets a new standard for performance, reliability and user satisfaction."
Leveraging its legacy and expertise in energy resilience devices, Generac's EV charger delivers power, efficiency, reliability and user convenience. The charger is Wi-Fi and Bluetooth enabled, offering enhanced connectivity and control through the Generac EV Charging app to monitor and manage scheduled charging remotely. Generac's L2 EV Charger features five distinct charging modes to accommodate various needs and preferences and comes with a three-year warranty. The L2 EV charger is up to 8X faster than a L1 charger, and its power-sharing capabilities allow you to connect multiple chargers to the same circuit to optimize power usage.
Generac's new EV charger is available through Generac certified dealers, on Amazon, and through a growing number of retailers and wholesale distributors nationwide. Generac's installer network, skilled in residential electrical applications, maintains the leading combination of knowledge to deliver hassle-free installation, power resilience and sustainability. For more information, visit www.generac.com.
About Generac
Generac Power Systems (NYSE: GNRC) is a leading energy technology company that provides backup and prime power products and energy storage systems for home and business applications, as well as energy monitoring and management devices and services, along with other power products. Founded in 1959, Generac introduced the first affordable backup generator and later created the automatic home standby generator category. The Company has continued to expand its energy technology offerings in its mission to lead the evolution to more resilient, efficient, and sustainable energy solutions.
*Global EV Outlook 2024, Published by the International Energy Agency.
Media Contact: Jonathan Stern
Jonathan.Stern@Generac.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/generac-expands-energy-system-offerings-with-level-2-ev-charger-302196018.html
SOURCE Generac Power Systems, Inc.
FAQ
What is Generac's new product announcement for July 15, 2024?
How does Generac's new Level 2 EV charger compare to L1 chargers?
What connectivity features does Generac's new EV charger (GNRC) offer?
Where can customers purchase Generac's new Level 2 EV charger (GNRC)?
