“The latest funding round is set to propel XCharge's ambitious expansion plans, reinforcing its position in the competitive EV charging industry,” the company stated.
The funds will support three key initiatives:
Global product line expansion
XCharge plans to enhance its battery-integrated product line, catering to the increasing demand for fast-charging solutions in the EV market.
Research and development facility in Hamburg
The company will establish a cutting-edge R&D facility at its headquarters in Hamburg, Germany, reinforcing its commitment to technological innovation.
US manufacturing facility in Texas
XCharge has established a new manufacturing facility in San Marcos, Texas, that is focused on producing EV charging solutions designed for the U.S. grid and expected to improve return on investment for customers.
“We are happy to further expand our presence in North America and achieve our goals of optimizing our products for North American markets,” said Aatish Patel, President and Co-founder of XCharge North America. “In addition to the flexible input levels and bidirectionality of our Net Zero Series, we are working to integrate PV solar power into our next gen systems for greater flexibility and energy distribution capability.”
Patel continued, “We design our products with all factors in mind, including the ease of installation, power grid stability, and safety. We will continue to focus on sustainable strategy of operations to drive the world’s transition to a low-carbon, clean energy powered future.”
As part of this expansion, XCharge Group will also establish a dedicated facility in Hamburg for research and development, product testing, and high-power charging technologies. This will involve hiring skilled engineers and product experts to ensure the highest levels of effectiveness, efficiency, and quality in their labs. XCharge has recently launched a new 400 kW high-power charger that allows clients to complete a charging session within 10 minutes.
Founded in 2015, XCharge Group is said to be a pioneer in battery-integrated charging solutions deployed in over 25 countries globally. With a strong focus on technology and product innovation, XCharge Group's Net Zero Series marks a step toward more sustainable and efficient charging infrastructures.
The company, which recorded a profit in 2022, has delivered 40,000-plus chargers to business partners worldwide. It plans to double its workforce within the next two years.
“XCharge Group remains committed to creating a green future by providing innovative and efficient EV charging solutions,” the company stated.
