Electric Vehicle Charging Firm Wallbox Joins Forces With Atlante To Deploy EV Fast-Charging Network In Southern Europe
Portfolio Pulse from Vandana Singh
Wallbox N.V. (NYSE:WBX) has partnered with Atlante, a company of NHOA Group, to develop a network of EV fast-charging stations across Italy, France, Spain, and Portugal. The collaboration aims to install 5,000 charging points by 2025 and 35,000 by 2030, powered by renewable energy. Atlante will use Wallbox's Supernova chargers for the network, which will be located along major transportation routes in compliance with new EU legislation. Wallbox's stock is down 5.96% in premarket trading.
November 20, 2023 | 11:51 am
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Wallbox N.V. is expanding its presence in Southern Europe through a partnership with Atlante to deploy an EV fast-charging network. The project aligns with EU infrastructure goals and is backed by renewable energy sources.
The partnership with Atlante is a significant development for Wallbox, indicating potential growth in the EV charging sector. However, the short-term impact on the stock is negative, as reflected by the 5.96% drop in premarket trading. This could be due to market concerns about the costs associated with the expansion or a general market downturn affecting the stock.
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