Wallbox and Sime Darby announce strategic partnership

Wallbox and Sime Darby announce strategic partnership

Together, the companies will help accelerate the adoption of EVs in Malaysia and boost development of the EV ecosystem in the Asia Pacific region

MALAYSIA, June 8th , 2022 - Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, and  Mecomb Malaysia, a subsidiary of Malaysian multinational Sime Darby Berhad have announced a distribution partnership in Malaysia. Under the terms of the agreement, Mecomb Malaysia will distribute a range of Wallbox products and be one of the preferred AC charging solutions for its sister company Sime Darby Motors, the automotive arm of Sime Darby, in Malaysia.

Sime Darby Motors in Malaysia represents some of the world’s most admired brands in automotive namely BMW, MINI, Ford, Jaguar, Land Rover, Porsche, Volvo and Hyundai.

“We are delighted to partner with Wallbox in offering premium compact EV solutions to our customers,” said Ooi Sim Mun, Managing Director of Mecomb Malaysia. “We look forward to growing this partnership within Malaysia and expanding across the Asia Pacific region in the future.”    

“We are delighted to team up with Sime Darby as we continue to expand our EV solutions across Malaysia,” said Moises Barea, Vice President of Sales, Wallbox. “Their commitment to sustainability goes beyond charging solutions and encompasses the entire EV ecosystem. As always, our goal continues to be to provide consumer-friendly products that are well-received by customers around the globe.”


Sime Darby, a partner of choice for the world’s best brands in the Motors and Industrial sectors, offers end-to-end solutions for the EV market through the sale of EVs via Sime Darby Motors as well as the supply and installation of EV chargers and EV charging solutions via Mecomb in Malaysia. These efforts are in line with Sime Darby’s Sustainability Blueprint which targets to have more than 50% products in its portfolio be more energy efficient than the 2020 product portfolio, by 2025.

Wallbox creates advanced electric vehicle charging and energy management systems that redefine users’ relationship to the grid. Wallbox goes beyond electric vehicle charging and aims to give users the power to control their consumption, save money, and live more sustainably.

About Wallbox

Wallbox is a global company, dedicated to changing the way the world uses energy in the electric vehicle industry. Wallbox creates smart charging systems that combine innovative technology with outstanding design and manage the communication between vehicle, grid, building and charger. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 100 countries. Founded in 2015, with headquarters in Barcelona, Wallbox’s mission is to facilitate the adoption of electric vehicles today to make more sustainable use of energy tomorrow. The company employs approximately 1,000 people in Europe, Asia, and the Americas.

For additional information, please visit www.wallbox.com.

About Sime Darby Berhad

Sime Darby Berhad is a partner of choice for the world's admired brands in the Industrial and Motors sectors. We deliver sustainable value to our stakeholders through operational excellence, high performance standards and good corporate governance. Founded in 1910, Sime Darby Berhad today has a workforce of approximately 20,000 employees and a presence in 19 countries across the Asia Pacific region. It is listed on the main market of Bursa Malaysia with a market capitalization of RM16.117 billion (USD3.68 billion) as at 11 May 2022.

For more information, please visit www.simedarby.com 

Wallbox Forward-Looking Statements

This press release includes "forward-looking statements'' within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the partnership between Wallbox and Sime Darby Berhad and EV development and expansion in Malaysia and the Asia Pacific region and the cost savings and sustainability impacts from using Wallbox’s chargers.      In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; and other important factors discussed under the caption "Risk Factors" in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.