Wallbox Stock Jumps After a Strategic Partnership with Uber

Oct 26, 2021 By MarketDepth

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Stock Jumps

Wallbox N.V. (NYSE: WBX) stock skyrocketed about 50% after the technology Company announced a strategic partnership to simplify the transition to EVs for Bay Area ride share drivers using Uber. The partnership between Uber and Wallbox is part of Uber’s recent commitment to becoming a 100% zero-emissions mobility platform in the US, Canada and Europe by 2030.

“Demand for EVs is rapidly increasing here in the US. To help accelerate the transition to more sustainable transportation, we need to continue to make charging accessible. Uber is a tech company at the heart of transport here in California, so it was natural for us to team up with them to give drivers using the platform access to smart at-home solutions.”

Douglas Alfaro, General Manager for Wallbox North America

According to Wallbox, about 80% of EV charging happens at home, the intent of this partnership is to provide drivers using Uber with an easy-to-use and affordable one-stop shop for home charging solutions. As part of the partnership, Wallbox will offer drivers with Uber a discounted package for a Wallbox charger, seamless installation and the option to finance the package.

“Climate is a team sport and Uber is committed to doing our part to expedite the transition to zero-emissions mobility. Making electric vehicle charging solutions available at scale is essential to achieving our goals and we are excited to partner with Wallbox on this mission.”

Uber SVP of Mobility and Business Operations Andrew Macdonald