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Wallbox Stock Price Up 147% on Electric Vehicle Deal With Uber

Updated: 26 Oct 2021

The price of Wallbox stock took off early Tuesday trading – showing huge gains of nearly 150%. The provider of electric vehicle (EV) charging and energy solutions entered a landmark deal with Uber, the globally renowned delivery and mobility specialist. 

The deal came to fruition off the back of Uber’s recent target of reaching 100% zero emissions in the US, Canada, and Europe by 2030. Wallbox will play a crucial part in easing the transition to EV’S for Uber’s Bay Area drivers. 

Wallbox hopes to incentivize the transition by focusing on at-home charging; through offering discounted packaged including a Wallbox charger, seamless integration, and even financing options to heighten the attractiveness of the transition. 

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The partnership will grow its roots in the Bay Area – where a growing use of EVs facilitates an ideal landscape for home charging apparatus. Should the scheme prove successful, Wallbox and Uber will move ahead with expansion plans for the rest of the US, Canada, and eventually globally. 

By leveraging their existing Amazon best-selling ‘Pulsar Plus’- Wallbox is able to target the heart of transport in California with a resolute, compact, and efficient way of feeding the EV revolution. 

Uber are equally pleased with the partnership, as stated by Andrew Macdonald, Uber SVP of Mobility and Business Operations:

“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.”

We are seeing an increasing wave of clean-energy partnerships govern the direction of the future economy. Sustainability has become a leading factor in not just innovation, but future survival. 

Wallbox is another example of a quiet underdog that is driving the green transition – and investors are taking note. Similar developments are happening across the US, including a recent EV ride-share system in LA.

As we enter into Tuesday market open, Wallbox stock is continuing to soar past all-time highs – trading with a 145% daily gain as the stock approaches the $28.00 zone.

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