EXCLUSIVE: CEOs Of Wallbox And Kensington Capital Acquisition Corp II Talk EV Charging, SPAC Merger On 'SPACs Attack'

Wallbox is set to go public with a pro-forma enterprise value of $1.5 billion via special purpose acquisition company (SPAC) Kensington Capital Acquisition Corp II KCAC.

Enric Asunción, CEO of Wallbox and Justin Mirro, chairman and CEO of Kensington Capital Acquisition Corp II, appeared on Benzinga's YouTube show "SPACs Attack" Tuesday for an exclusive interview. Listen to the interview here. 

About Wallbox: Wallbox designs, develops and manufactures intelligent charging systems for electric vehicles, Asunción told Benzinga.

The company is one of the fastest-growing companies in the EV charging space, he said, adding that it focuses on both charging and energy management.

The ability to control its own supply chain gives Wallbox a huge advantage over its competition, Asunción said. Wallbox has 45% gross margins which exceed all of its competition, he added. 

The company currently sells its products for home, business and public space use in 67 countries, the Wallbox CEO said. 

Company Outlook: The infrastructure in the EV space is a focus among governments and individual investors around the world, Mirro said. 

Wallbox makes the simplest, safest and most innovative EV chargers for consumers on the market today, he told Benzinga. 

The company has world-leading margins and has already been certified by multiple car manufacturers, Mirro said, adding that it won't be difficult for Wallbox to meet and even exceed its forecasts.

Wallbox aims to be the provider of all-in-one renewable energy solutions with the charger at the center.

SPAC Notes: Wallbox is growing very quickly and the team at Kensington Capital Acquisitions Corp II shared the same vision for Wallbox, so the SPAC route to the public market was the right fit for the company, Asunción noted.

The team at Kensington Capital Acquisition Corp II has a long history in the automotive space, so Wallbox presented a great merger target opportunity, Mirro added.

The merger is expected to close in the third quarter of 2021. 

Pending shareholder approval, the combined company will be listed on the New York Stock Exchange as Wallbox and trade under the ticker symbol "WBX”.

Related Link: Electric Vehicle Charging Company Wallbox Gets SPAC Deal: What Investors Should Know

Price Action: Kensington Capital Acquisitions Corp II has traded as high as $25.75 and as low as $9.74 since its IPO in February. At last check Tuesday, the stock was up 0.30% at $9.97.