Ford and Allego Partner to Electrify European Dealership Network with Ultra-Fast Charging

Rhea-AI Summary

Ford partners with Allego to equip hundreds of European dealerships with ultra-fast EV charging technology, enhancing convenience for Ford EV drivers and boosting confidence in electric vehicles. The collaboration aims to support Ford's transition to a 100% electric vehicle lineup by 2035.

Insights

Automotive Industry Analyst

The strategic partnership between Ford and Allego to equip Ford dealerships with ultra-fast EV charging technology is a proactive move in the rapidly evolving automotive landscape. This initiative aligns with the broader industry trend towards electrification and the need for robust charging infrastructure to support the growing fleet of electric vehicles (EVs). The deployment of high-power charging stations up to 400 kW significantly reduces charging time, which is a critical factor in enhancing consumer adoption of EVs. The accessibility of these chargers to all EV drivers, regardless of brand, alongside preferential rates for Ford customers, positions Ford as a facilitator in the EV ecosystem, potentially increasing brand loyalty and customer retention.

From a business standpoint, this development could drive foot traffic to Ford dealerships, creating opportunities for additional revenue streams such as service and maintenance for EVs. Moreover, it may contribute to Ford's competitive advantage in a market where consumers consider charging convenience as a key decision-making factor. As the company moves towards a fully electric lineup in Europe by 2035, this infrastructure expansion could be a strategic pillar in achieving that goal and may positively influence Ford's market share in the EV segment.

Energy Sector Analyst

The collaboration between Ford and Allego underscores the intersection of the automotive and energy sectors, highlighting the importance of energy infrastructure in the transition to electric mobility. Allego's commitment to expand its charging network to meet the increasing demand for EV charging facilities reflects a growing market opportunity for energy companies. The strategic placement of ultra-fast charging stations at Ford dealerships leverages existing real estate, optimizing the rollout process and potentially reducing the capital expenditure typically associated with establishing new charging sites.

For the energy sector, partnerships with automakers can lead to increased utilization rates of charging stations, improving the economics of the charging network. Allego's expansion through Ford dealerships could serve as a blueprint for similar collaborations, potentially increasing the company's market penetration. This move also indicates a trend towards integrated service offerings, where energy providers are not just suppliers of electricity but are actively involved in shaping the customer experience in the EV charging domain.

Sustainability Expert

The announcement reflects a significant step towards a sustainable transportation future. Providing ultra-fast charging technology at Ford dealerships contributes to the reduction of 'range anxiety', which is a notable barrier to EV adoption. The partnership between Ford and Allego supports the broader societal shift towards sustainability by encouraging electric vehicle uptake. By enhancing the charging infrastructure, Ford is not only investing in its future as an automaker but also playing a role in the reduction of carbon emissions associated with transportation.

Long-term, the success of such initiatives can lead to a positive feedback loop, where increased EV adoption leads to further investment in renewable energy and charging infrastructure, creating a more sustainable ecosystem. The focus on interoperability of charging stations is also a forward-thinking approach that promotes a unified and user-friendly charging network, essential for fostering a collaborative environment amongst automakers and energy providers in the pursuit of sustainable goals.

• Hundreds of Ford dealerships across Europe to be equipped with Allego ultra-fast EV charging technology.

• Access to high-power chargers up to 400 kW will make charging more convenient for Ford EV drivers and boost confidence for consumers ready to make the switch to electric.

• Rollout of Allego technology joining more than 600,000 charging points in Ford’s public charging service – BlueOval Charge Network – will begin this year.

 

COLOGNE, Germany & ARNHEM, Netherlands--(BUSINESS WIRE)-- Ford (NYSE: F) and Allego N.V. (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced a strategic partnership to bring ultra-fast charging infrastructure to hundreds of Ford dealerships across Europe.

Ford Explorer fast charging at an Allego ultra-fast charger (Photo by Ford)

The new collaboration will further expand convenient and reliable charging solutions for customers of Ford electric vehicles (EVs) including the new electric Explorer¹, as the American brand journeys towards a 100 percent electric line-up of passenger and commercial vehicles in Europe by 2035.

Customers can from today order the Explorer crossover, Ford’s first EV passenger car engineered and built in Europe.

Delivering up to 400 kW charging, Allego 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.

Ford customers will benefit from preferential rates when paying for charging using their FordPass Charging Card, the FordPass app² or Plug & Charge, with other drivers able to pay using debit or credit card.

Allego’s Chief Executive Officer, Mathieu Bonnet, commented, “Allego continues to expand its network to meet the demand for charging that comes with more EVs on the road. Automakers like Ford are stepping up to the plate by producing a greater selection of EVs as the European market fully transitions to electric. 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.”

Ford’s European Head of Charging & Energy, Ford Model e, Joerg Hofmeister, commented “Ford believes charging infrastructure is one of the keys to giving consumers the confidence to make the switch to electric. Our new partnership with Allego is going to make the charging experience faster and more convenient for our customers, and encourage more drivers than ever to consider the benefits of zero emissions while driving in vehicles like our new electric Explorer.”

Ford’s European Manager, Charging & Energy Strategy and Go-to Market, Ford Model e, Oliver Adrian, says, “The new high-power charging stations will be included within the BlueOval Charge Network – Ford’s public charging service – which enables drivers to access and pay for charging at more than 600,000 charging points³ in Europe. A key benefit for Ford customers will be the Plug & Charge technology at Allego charging stations – providing fast and secure charging without needing to use an app or RFID card.”

¹ Based on full charge of Explorer RWD extended range. Estimated range using Worldwide Harmonised Light Vehicle Test Procedure (WLTP). Figures shown are for comparability purposes and should only be compared with other vehicles tested to the same technical procedures. Actual range varies due to factors such as temperature, driving behaviour, route profile, vehicle maintenance, lithium-ion battery age and condition.

² FordPass app, compatible with selected smartphone platforms, is available via download. Message and data rates apply. FordPass Connect, the FordPass app and complimentary Connected Service are required for remote features (see FordPass terms for details). Connected Service and features depend on Vodafone or Vodafone partner mobile network availability. Evolving technology/mobile networks/vehicle capability may limit functionality and prevent operation of connected features. Connected Service excludes Wi-Fi hotspot.

³ Number of charge points across 36 European countries.

About Allego

Allego is a leading provider of electric vehicle charging solutions, dedicated to accelerating the transition to electric mobility with 100% renewable energy. Allego has developed a comprehensive portfolio of innovative charging infrastructure and proprietary software, including its Allamo and EV Cloud software platforms. With a network of 35,000 charging points (and counting) spanning 16 countries, Allego delivers independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. Founded in 2013 and publicly listed on the NYSE in 2022, Allego now employs a team of 200 people striving every day to make charging accessible, sustainable, and enjoyable for all.

For more information, please visit www.allego.eu.

About Ford

Ford, a global American brand woven into the fabric of Europe for more than 100 years, is committed to freedom of movement that goes hand-in-hand with looking after the planet and each other. The company’s Ford+ plan, with Model e, Ford Pro and the Ford Blue business units is accelerating its European transformation to an all-electric and carbon neutral future by 2035. The company is driving forward with bold, new EVs, each one designed with European drivers in mind and innovating with services to help people connect, communities grow, and businesses thrive. Selling and servicing Ford vehicles in 50 individual European markets, operations also include the Ford Motor Credit Company, Ford Customer Service Division and 14 manufacturing facilities (eight wholly owned and six unconsolidated joint venture facilities) with four centres based in Cologne, Germany; Valencia, Spain and at our joint venture in Craiova, Romania and Kocaeli, Türkiye. Ford employs approximately 34,000 people at its wholly owned facilities and consolidated joint ventures and approximately 57,000 people including unconsolidated businesses across Europe. More information about the company, its products and Ford Credit is available at corporate.ford.com.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are forward-looking statements. Allego intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, Allego’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Allego’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) the ability of the Company to cure the minimum share price deficiency and regain compliance with NYSE listing standards and for the Company’s ordinary shares to remain listed on the NYSE, (ii) changes adversely affecting Allego’s business, (iii) the price and availability of electricity and other energy sources, (iv) the risks associated with vulnerability to industry downturns and regional or national downturns, (v) fluctuations in Allego’s revenue and operating results, (vi) unfavorable conditions or further disruptions in the capital and credit markets, (vii) Allego’s ability to generate cash, service indebtedness and incur additional indebtedness, (viii) competition from existing and new competitors, (ix) the growth of the electric vehicle market, (x) Allego’s ability to integrate any businesses it may acquire, (xi) the agreement of various landowners to deployment of Allego charging stations, (xii) Allego’s ability to recruit and retain experienced personnel, (xiii) risks related to legal proceedings or claims, including liability claims, (xiv) Allego’s dependence on third-party contractors to provide various services, (xv) data security breaches or other network outage, (xvi) Allego’s ability to obtain additional capital on commercially reasonable terms, (xvii) Allego’s ability to remediate its material weaknesses in internal control over financial reporting, (xviii) the impact of COVID-19, including COVID-19 related supply chain disruptions and expense increases, (xix) general economic or political conditions, including the Russia/Ukraine and Israel/Hamas conflicts or increased trade restrictions between the United States, Russia, China and other countries, and (xx) other factors detailed under the section entitled “Risk Factors” in Allego’s filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego presently does not know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this press release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240326001015/en/

Allego:

Investors

investors@allego.eu

Media

allegoPR@icrinc.com

Ford Europe:

Stefan Tinnemann

stinnema@ford.com

+49 (0) 160 9083 1279

Source: Allego N.V.

FAQ

What is the strategic partnership between Ford and Allego about?

Ford and Allego are partnering to bring ultra-fast charging infrastructure to hundreds of Ford dealerships across Europe, enhancing convenience for Ford EV drivers.

What charging capabilities will Allego's ultra-fast charging stations offer at Ford dealerships?

Allego's ultra-fast charging stations at Ford dealerships will deliver up to 400 kW charging, accessible around the clock to EV drivers with DC charging capability.

How can Ford customers pay for charging at Allego stations?

Ford customers can benefit from preferential rates by using their FordPass Charging Card, the FordPass app, or Plug & Charge. Other drivers can pay using debit or credit cards.

What is the key benefit of the Plug & Charge technology at Allego charging stations for Ford customers?

The Plug & Charge technology at Allego charging stations allows fast and secure charging without the need for an app or RFID card, providing convenience for Ford customers.

What is the goal of Ford's transition to a 100% electric vehicle lineup in Europe by 2035?

Ford aims to offer a complete electric vehicle lineup by 2035, supporting the transition to electric vehicles and sustainable transportation in Europe.