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Pioneer Power's e-Boost Mobile Solution Selected by Major Automaker to Support Multi-City Autonomous Electric Vehicle Rollout
Initial order for multiple 400 kW e-Boost units and a transaction value of approximately $1 million FORT LEE, N.J., June 2, 2023 /PRNewswire/ -- Pioneer Power
About this update from Pioneer Power Solutions, Inc.
[{"type":"text","content":"Initial order for multiple 400 kW e-Boost units and a transaction value of approximately $1 million \nFORT LEE, N.J., June 2, 2023 /PRNewswire/ -- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (\"Pioneer\", \"Pioneer Power\" or the \"Company\"), a leader in the design, manufacture, service and integration of electrical power systems, distributed energy resources, power generation equipment and mobile electric vehicle (\"EV\") charging solutions, today announced that an autonomous driving division of a major global automaker has transacted for multiple e-Boost units to support the initial rollout of autonomous electric vehicles in several cities. Deliveries are expected to begin in September 2023 and be complete by the end of the current fiscal year.\n\"This represents another significant use-case for our e-Boost solution, facilitating a rapid rollout of autonomous electric vehicles in a flexible way,\" commented Geo Murickan, head of Pioneer Power's e-Mobility business. \"The existing charging infrastructure cannot meet the current demand for these deployments, and adoption is accelerating rapidly. Pioneer Mobility is addressing this shortfall with the most innovative, flexible, and rapidly deployable solution for anytime, anywhere EV charging. We are thrilled to play a critical role in the growing adoption of smart, autonomous EV transportation options.\"\n\"This order further evidences how e-Boost is evolving into the solution of choice for rapid, mobile fast charging independent of any grid connection,\" added Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer. \"We expect that our e-Boost product offering will contribute between 5 to 10% to Pioneer's top-line during the current fiscal year and between 10 to 20% during the fiscal year ending December 31, 2024.\"\nAbout Pioneer Power Solutions, Inc. \nPioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, refurbishment, service and distribution of electric power systems, distributed energy resources, power generation equipment and mobile EV charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.\nForward-Looking Statements:\nThis press release contains \"forward-looking statements\" within the meaning of the Private...