Polar Power, Inc. (POLA) announced Friday that it's received an initial order for 50 units of its next-generation EVMC30K mobile chargers—essentially a roadside assistance solution for electric vehicles that run out of juice before reaching a charging station.
Think of it as the EV equivalent of a gas can, except instead of hauling a jerrycan, you're rolling up with a propane-powered mobile fast charger.
How It Works
The EVMC30K delivers 15 to 30 minutes of charging time, providing enough range to get a stranded EV to the nearest charging station. The units provide up to 30 kW of Level 3 fast charging through both CCS and Tesla charging standards, allowing drivers to continue their trip without waiting for a tow truck or paying towing fees.
The chargers operate completely off-grid using a propane-fueled Toyota prime power engine paired with a high-efficiency Polar DC alternator, enabling direct generator-to-EV charging without needing grid connectivity.
Beyond emergency roadside use, the EVMC30K also offers practical applications for car rental agencies that lack Level 2 or Level 3 chargers on-site, allowing them to quickly turn vehicles around for new customers and improve asset utilization.
What Management Says
Arthur Sams, CEO of Polar Power, said, "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."
Sams continued, "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 in premarket trading Friday.