Generac to Expand its Clean Energy Offering with the Addition of Residential Electrical Vehicle Chargers

Rhea-AI Summary

Generac Power Systems (NYSE: GNRC) has announced the launch of its first electric vehicle charger, aimed at meeting the increasing demand for EVs in the U.S. The 48A / 11.5kW Level 2 home charger can charge vehicles in four to six hours and is compatible with nearly all EVs. Generac emphasizes the reliability and trust in its brand, which has been a leader in energy technology for nearly 65 years. The charger will be available through various retail channels and offers in-home consultation for installation. Mass marketing is set for the second half of 2023.

Positive

• Introduction of the Generac EV charger expands product line into the growing EV market.
• The charger is compatible with most EVs and can fully charge in four to six hours.
• Generac's established brand trust and market presence bolster product acceptance.

Negative

• None.

Argus Session date unavailable

+6.59% session move Open Argus

Details

News Market Reaction – GNRC

The recorded move for GNRC in the trading session of this news was +6.59%.

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

WAUKESHA, Wis., Jan. 31, 2023 /PRNewswire/ -- Generac Power Systems, Inc., (NYSE: GNRC) a leading global designer and manufacturer of energy technology solutions and other power products, today announced the introduction of its first electric vehicle charging system. The Generac EV charger offers electric vehicle owners a reliable and easy-to-install home charger from one of the most respected names in residential power.

The 48A / 11.5kW Generac EV charger is a Level 2 home charger capable of charging a car battery in as little as four to six hours, depending on the car battery's capacity and charge need. The unit's J1772 connector is out-of-the-box compatible with nearly all EVs on the market today, and a NEMA-4 enclosure makes the unit rated for both indoor and outdoor residential installation.

"We've seen an unprecedented rise in demand for electric vehicles in the United States," said Joshua Brister, director of product management at Generac. "We're excited to help satisfy this high demand by adding the Generac EV charger to our network of energy technology products."

The Generac EV charger will be available through Generac's omni channel sales outlets including leading home improvement retailers, wholesalers, and hardware stores. Customers will also have the ability to have an in-home consultation with a turnkey installation through Generac's dealers by visiting the website and filling out a contact form.  

"Electric vehicle owners need confidence that they can quickly charge to get where they need to go," said Nick Schmidling, senior product manager at Generac. "As a leader in home energy technology, we're introducing a product that homeowners can rely on, with a name brand they have come to trust for nearly 65 years."

The Generac EV charger is the latest in Generac's complete line of home energy solutions and will be mass marketed and available for purchase in the second half of 2023. To learn more about the Generac EV charger, visit the website.

About Generac
Generac Power Systems, Inc. (NYSE: GNRC) is a leading energy technology company that provides advanced power grid software solutions, backup and prime power systems for home and industrial applications, solar + battery storage solutions, virtual power plant platforms and engine- and battery-powered tools and equipment. Founded in 1959, Generac introduced the first affordable backup generator and later created the category of automatic home standby generator - a market in which nearly eight of ten generators sold is a Generac. The company is committed to sustainable, cleaner energy products poised to revolutionize the 21st century electrical grid.

Media Contact: Stephanie Rodgers
Stephanie.Rodgers@Generac.com
Phone: 262.544.4811 Ext. 4456

View original content to download multimedia:https://www.prnewswire.com/news-releases/generac-to-expand-its-clean-energy-offering-with-the-addition-of-residential-electrical-vehicle-chargers-301734015.html

SOURCE Generac Power Systems, Inc.

FAQ

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

What new product has Generac introduced?

Generac has launched its first electric vehicle charger.

When will the Generac EV charger be available for purchase?

The Generac EV charger will be mass marketed and available for purchase in the second half of 2023.

What is the charging capability of the Generac EV charger?

The Generac EV charger is a 48A / 11.5kW Level 2 charger capable of charging a vehicle in four to six hours.

Is the Generac EV charger compatible with all electric vehicles?

Yes, the charger features a J1772 connector compatible with nearly all EVs on the market.