Wallbox, a leading provider of electric vehicle (EV) charging solutions, announced today that Anders Pettersson will join the Wallbox Board of Directors upon completion of Wallbox’s business combination with Kensington Capital Acquisition Corp. II (NYSE: KCAC), which is expected in the third quarter of 2021.
Mr. Pettersson brings over 35 years of global experience in sourcing, evaluating and acquiring businesses across the automotive aftermarket, cloud technology, personal safety, and health and wellness industries. This includes prior roles as Chief Executive Officer for several companies, most notably Thule Group, a world leader in products for sports and outdoor activities that is well known in the automotive aftermarket industry. He currently serves as chairman of the Brink Group, a leading towing hitch business in Europe, in addition to serving on the boards of directors of other innovative companies.
Enric Asunción, Co-Founder and Chief Executive Officer of Wallbox, commented, “We are thrilled that Anders Pettersson will be joining our board. His experience, particularly in building powerful brands in the automotive aftermarket through his understanding of both the consumer market and what is required to certify products with automotive OEMs, will help us continue to grow our leading position in residential and semi-public smart charging and energy management solutions.”
“Efficient and affordable electric vehicle charging technology, particularly at home and at office sites, will be a critical enabler of EV penetration,” said Anders Pettersson. “Wallbox checks all of the necessary boxes with respect to what makes for a successful business model, and I look forward to playing an advisory role as the company grows.”
Justin Mirro, Chairman and Chief Executive Officer of Kensington, added, “As a board member for Kensington, Anders’ experience has been invaluable in our search for the right business partner. His understanding of how the automotive aftermarket brand market works was one of the many validating factors that supported our decision to enter into the proposed business combination with Wallbox, and he will be a great addition to the combined company board.”
“We are already present in 67 countries today and are a go-to for several auto OEMs on a continental, regional, and country basis. However, widespread EV adoption is only in its early stages, and as such our future addressable market is significant in size,” continued Mr. Asunción. “We look forward to Anders further amplifying our already deep experience with growing into new markets and with new partners.”
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 60 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 over 500 people in Europe, Asia, and the Americas.
Wallbox and Kensington announced a business combination in June 2021 that is expected to result in Wallbox becoming a publicly traded company on the NYSE under the ticker symbol “WBX”.
For additional information, please visit www.wallbox.com.
About Kensington
Kensington Capital Acquisition Corp. II (NYSE: KCAC) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with a business in the automotive and automotive-related sector. The company is sponsored by Kensington Capital Partners (“KCP”) and the management team of Justin Mirro, Bob Remenar, Simon Boag and Dan Huber. The company is also supported by a board of independent directors including Tom LaSorda, Nicole Nason, Anders Pettersson, Mitch Quain, Don Runkle and Matt Simoncini. The Kensington team has completed over 70 automotive transactions and has over 300 years of combined experience leading some of the largest automotive companies in the world.
For additional information, please visit www.autospac.com.
