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Uber and Wallbox’s EV Charging Partnership To Expand Across the U.S.

By Sam Boughedda — Uber Technologies Inc (NYSE:UBER) and electric vehicle charging company Wallbox (NYSE:WBX) announced Tuesday they are expanding their partnership to the entire U.S.

The companies previously ran a pilot in the Bay Area that provided Uber drivers a discounted package for a Wallbox Pulsar Plus charger, installation and the option to finance the package. 

The expansion will see drivers across the U.S. have access to Wallbox’s discounted EV charging package. Uber said the expansion will be rolled out in four key groups to reach nationwide coverage by the end of April, starting with Los Angeles, Portland and Seattle in January.

In addition, Uber and Wallbox are in discussions about a potential global roll-out program beginning in Europe and Canada.

As part of its aim to become a zero-emission platform in the U.S. and Canada by 2030, Uber also has a Uber program that makes drivers of fully electric vehicles eligible for an incentive, enabling them to earn an extra $1 on every Uber trip — up to $4,000 annually.

Uber shares are up 1.95% Tuesday. On Monday, Cowen trimmed their price target on Uber to $76 from $82, saying the mobility recovery has been slightly impacted by the Omicron variant.

© Reuters.

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