Ford nyse F Stock Jumps on Mega Ev Charging Partnership

Ford (NYSE: F) Stock Jumps on Mega EV Charging Partnership

Ford Motor Company (NYSE: F) stock rose in the early trading hours Thursday after the U.S. automaker teamed up with Allego to enable fast EV charging at European dealerships.

Ford (F) has declared a strategic collaboration with Allego N.V. (NYSE: ALLG), a top-tier European electric vehicle charging network. The partnership aims to install ultra-fast charging stations at European Ford dealerships, supporting Ford’s 2035 all-electric goal. The move will revolutionize the charging experience for Ford EV owners, making it more efficient and convenient while promoting the adoption of electric vehicles. The ultra-fast charging stations by Allego, delivering up to 400 kW, will slash EV charging times.

One of the primary beneficiaries of this infrastructure expansion will be Ford’s electric vehicle lineup, including the recently introduced electric Explorer, the brand’s maiden EV passenger car engineered and manufactured in Europe, which is now available for order. The charging stations will be compatible with all DC charging-enabled vehicles, irrespective of the manufacturer.

Ford EV drivers will enjoy exclusive benefits, such as preferential rates facilitated through the FordPass Charging Card, the FordPass app, or the Plug & Charge feature. For non-Ford EV drivers, access to the charging services will be available through standard payment methods like debit or credit cards.

Ford’s public charging service, the BlueOval Charge Network, will integrate these charging stations. This service provides access to over 600,000 charging points across Europe. The Plug & Charge technology at Allego stations will ensure a seamless charging experience, eliminating the need for additional authentication methods.

Ford (NYSE: F) Stock Price Action

Ford stock rose 0.88% to $13.16 in the early trading hours on Thursday. The traders had exchanged hands with 8,068,712 (8.06 million) shares compared to the average daily trading volume of 54.35 million.