DPW Holdings (DPW) Stock Rockets On New Electric Vehicle Chargers

DPW Holdings DPW Stock News

DPW Holdings Inc (NYSEAMERICAN: DPW) is flying in the market this morning, trading on gains of well over 100%. The movement in the stock is taking place after the company announced that its subsidiary is launching a new line of electric vehicle chargers. Here’s what’s going on:

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DPW Stock Rockets On EV Charging Product Line News

In the press release, DPW said that its power electronics subsidiary, Coolisys Technologies, is introducing a new line of electric vehicle chargers. The company said that the product line offers an innovative charging solution that is expected to produce a full charge for a 150-mile range electric vehicle in around 30 minutes.

DPW said that the new product line will include a full range of solutions for EV charging. This includes chargers for level 1 electric vehicles for household use, all the way up to level 3 chargers for commercial applications that require 480V DC or higher output.

Moreover the company is offering up three different types of connectors. With the three different charger connectors, customers will have the ability to charge vehicles from all major EV manufacturers, including Tesla, Honda, Nissan, Toyota, BMW, Ford, GM, Jaguar, and more.

In a statement, Amos Kohn, CEO at the DPW subsidiary, Coolisys, had the following to offer:

We are pleased to announce the introduction of EV chargers to our Coolisys product line. These new products are well positioned to address the expected rapid expansion of infrastructure required to support broad adoption of electric vehicles globally. Entering the EV charger market significantly expands the breadth of our product offerings as we look to introduce additional products for the automotive industry and continue our strong reputation for delivering high-reliability power solutions designed to serve mission critical applications in the harshest environments.

This Is Huge News

The fact of the matter is that there’s very good reason for the excitement among investors with regard to DPW stock today. First and foremost, the electric vehicle industry is still in its infancy. Those that take key roles now will likely prove to be leaders in the future, and the company is falling right into that category.

With that said, the EV charging station market is a massive, and growing one. In fact, last year, the EV charging industry was worth about $2.5 billion. However, wtih expectations of rapid growth, the industry is expected to become massive, growing more than 10 times what we saw in 2019 by the year 2027.

Considering the fact that DPW trades with a market cap of under $15 million, tapping into even a very small percentage of this market has the potential to generate significant revenue for the company, making this incredibly exciting news and DPW stock one for the watchlist.

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