DPW (NYSEAMERICAN:DPW) stock is on the rise Friday following news of a new hybrid electric vehicle (EV) charger from the holding company.
According to a DPW news release, the new hybrid EV charger comes from its subsidiary Coolisys Technologies. The charger is special in that it can offer both alternating current (AC) and direct current (DC) charging to EVs.
DPW also points out that its new hybrid EV charger includes multiple configurations for charging. The company says that this has it supporting the J1772, CCS1, and CHAdeMO standards.
DPW notes that its plethora of charging options means that it can charge virtually any EV. That includes those from major automobile manufacturers, such as Ford (NYSE:F), General Motors (NYSE:GM), and Honda (NYSE:HMC). The only expectations are those from Tesla (NASDAQ:TSLA) but an adaptor can be used to charge those EVs too.
Amos Kohn, president and CEO of Coolisys Technologies, said this about the EV news.
“We are pleased to announce the introduction of the new hybrid EV charger to our growing EV charger product line. The new hybrid EV charger provides flexibility as it will produce both an AC and DC charge and is compatible with the J1772, CCS1 and CHAdeMO standards. We believe our expanded product line is well-positioned to address the expected rapid expansion of infrastructure required to support broad adoption of electric vehicles globally.”
DPW stock was up 10.1% as of Friday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.