Allego Expands Strategic Partnership With Germany's ATU - Read Why

Allego NV (NYSE:ALLG) has entered into a strategic partnership with ATU, a German automotive service provider, for EV charging infrastructure.
The project is expected to begin in 2022. The partnership provides for installing fast-charging stations at 400 ATU stores totaling around 900 charging points.
Allego is investing a mid-double-digit million sum for this purpose, and ATU will provide the locations for the charging stations.
Price Action: ALLG shares are trading lower by 4.62% at $8.25 on the last check Tuesday.