NEW JERSEY, 3 June 2023: Pioneer Power Solutions, Inc. (Nasdaq: PPSI), a leading provider of electrical power systems, energy resources, power generation equipment, and e-Boost EV charging solutions, announced that it has received a significant order from an autonomous driving division of a major global automaker.
The division has purchased multiple e-Boost units to support the initial rollout of autonomous electric vehicles in various cities. Deliveries are scheduled to commence in September 2023 and conclude by the end of the fiscal year.
The e-Boost unit is a mobile, rapid-charging solution that can be used to charge electric vehicles anywhere there is an available power source. It is ideal for use in autonomous driving applications, as it can be quickly deployed to provide charging support for fleets of vehicles.
“This order is a significant validation of our e-Boost solution and its ability to meet the needs of the autonomous driving market,” said Geo Murickan, head of Pioneer Power’s e-Mobility business. “The current charging infrastructure is insufficient to meet the demand for autonomous vehicles, and the adoption rate is rapidly increasing. Pioneer Mobility is committed to addressing this shortfall by offering the most innovative, flexible, and quickly deployable solution for EV charging anywhere and anytime.”
Nathan Mazurek, Chairman and CEO of Pioneer Power, added, “This order is a strong vote of confidence in our e-Boost product offering and its ability to help our customers meet the growing demand for electric vehicle charging. We believe that e-Boost will become the preferred solution for rapid, mobile fast charging without reliance on a grid connection. We anticipate that our e-Boost product offering will generate 5 to 10% of Pioneer’s revenue in the current fiscal year and 10 to 20% in the fiscal year ending December 31, 2024.”
Pioneer Power Solutions is a renowned company engaged in the design, manufacture, integration, refurbishment, service, and distribution of electric power systems, energy resources, power generation equipment, and mobile EV charging solutions. Their products find applications in utility, industrial, and commercial markets.