Wallbox Rallies In Pre-market On Expanding Partnership With Uber

Shares of electric vehicle charging solutions provider Wallbox N.V. (WBX) are rising more than 13% in pre market on Tuesday after the company said it is expanding partnership with Uber Technologies, Inc. (UBER) to across the country.

The companies had launched a pilot program in October last year in the Bay Area California, and the nationwide coverage is expected to reach by the end of April 2022.

The partnership provides Uber drivers a discounted package for a Wallbox Pulsar Plus charger, installation and the option to finance the package.

The partnership is being supported by an Uber program that makes drivers of fully electric vehicles eligible for a $1 zero emissions incentive for every trip, making up to $4,000 annually.

Further, Uber and Wallbox are in discussion for a potential global roll-out program beginning in Europe and Canada, the companies said.

WBX stock closed Monday's regular trading at $12.03, up $0.18 or 1.52%. It trading at 13.65 in pre-market.

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