Generac Expands Energy System Offerings with Level 2 EV Charger

Generac Power Systems (NYSE: GNRC) has launched its first electric vehicle (EV) charger, a level 2 charger designed for homes and businesses.

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.

Argus Session date unavailable

+0.57% session move Open Argus

Details

News Market Reaction – GNRC

The recorded move for GNRC in the trading session of this news was +0.57%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Advanced EV Charging Solution Supports Growing U.S. Market

WAUKESHA, Wis., July 15, 2024 /PRNewswire/ -- Generac Power Systems Inc. (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced the availability of its first electric vehicle (EV) charger. This state-of-the-art level 2 charger represents another notable solution in Generac's portfolio to help people with energy management, and underscores Generac's commitment to lead the evolution to more resilient, efficient, and sustainable energy solutions. With the United States' EV market share projected to reach over 11% in 2024* and more Americans wanting to use energy on their own terms, this is an ideal time for Generac to add a charging solution for homes and businesses.

"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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Generac's new product announcement for July 15, 2024?

Generac Power Systems (NYSE: GNRC) announced the availability of its first electric vehicle (EV) charger, a level 2 charger designed for homes and businesses.

How does Generac's new Level 2 EV charger compare to L1 chargers?

Generac's new Level 2 EV charger is up to 8 times faster than L1 chargers, offering significantly reduced charging times for electric vehicles.

What connectivity features does Generac's new EV charger (GNRC) offer?

Generac's new EV charger is Wi-Fi and Bluetooth enabled, allowing users to monitor and manage scheduled charging remotely through the Generac EV Charging app.

Where can customers purchase Generac's new Level 2 EV charger (GNRC)?

Generac's new Level 2 EV charger is available through Generac certified dealers, on Amazon, and through a growing number of retailers and wholesale distributors nationwide.