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Allego N.V. (NYSE:ALLG) jumped in morning trading on Tuesday after the company announced a strategic partnership with Ford Motor (F) to bring ultra-fast charging infrastructure to hundreds of Ford dealerships across Europe.
The new collaboration is expected to further expand convenient and reliable charging solutions for customers of Ford electric vehicles. Allego's (ALLG) ultra-fast charging stations at Ford dealerships will be accessible to EV drivers around the clock and compatible with vehicles that offer DC charging capability regardless of manufacturer. The stations will deliver up to 400 kW of charging.
Ford (F) customers will benefit from preferential rates when paying for charging using their FordPass Charging Card, the FordPass app or Plug & Charge, with other drivers able to pay using debit or credit card.
"Automakers like Ford are stepping up to the plate by producing a greater selection of EVs as the European market fully transitions to electric," stated Allego CEO Mathieu Bonnet. "By equipping these Ford dealerships with Allego’s ultra-fast charging technology, switching to electric will only become easier and more accessible to drivers throughout Europe," added Bonnet.
Shares of Allego (ALLG) rose 10.40% in late morning trading.