Polar Power Wins 50-Unit EV Charger Deal To Aid Stranded Drivers

Polar Power, Inc. (NASDAQ:POLA) announced on Friday that the company has received an initial order for 50 of its next-generation EVMC30K mobile chargers.

These chargers are designed to provide emergency fast-charging for electric vehicles that run out of battery before reaching a stationary charging station.

Details

The EVMC30K Chargers provide a 15–30 minute charge, enough for EVs to reach the nearest charging station, acting like a gas can for stranded electric vehicles.

The chargers deliver up to 30 kW of Level 3 fast charging via CCS and Tesla standards, allowing stranded EVs to continue their journey without towing delays or costs.

They operate off-grid using a propane-fueled Toyota prime power engine paired with a high-efficiency Polar DC alternator for direct generator-to-EV charging.

For car rental agencies without level 2 or 3 chargers on-site, the EVMC30K enables fast turnaround for new customers, boosting asset utilization.

Management Commentary

Arthur Sams, CEO of Polar Power, added, “As an EV owner for 9 years, I understand the challenges of range anxiety and phantom discharge. Our technology provides a practical and efficient alternative to towing, giving EV owners peace of mind and enabling fleets, dealerships, and manufacturers the ability to manage charging needs during transport and storage, and rescue their stranded drivers.”

“With EV adoption accelerating into trucks and buses, Polar Power sees a significant opportunity to supply mobile EV chargers nationwide for both residential and commercial applications. Polar Power’s customer for these 50 units is currently in business selling level 1 and 2 mobile EV chargers. We are currently in negotiation for a 2 year distribution agreement for sales and service of our mobile chargers. This is expected to augment Polar Power’s limited sales presence in the niche market.”

Price Action: POLA shares were trading lower by 1.73% to $2.27 premarket at last check Friday.

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