exhibit 10. 1 subscription agreement kensington capital acquisition corp. ii 1400 old country road, suite 301 westbury, ny 11590 wallbox b. v. carrer del foc, 68 barcelona, spain 08038 ladies and gentlemen : in connection with the proposed business combination ( the “ transaction ” ) pursuant to the business combination agreement ( as it may be amended, restated or otherwise modified from time to time, the “ transaction agreement ” ), dated as of june 9, 2021, among kensington capital acquisition corp. ii, a delaware corporation ( the “ spac ” ), wallbox b. v., a private limited liability company ( besloten vennootschap met beperkte aansprakelijkheid ) organized under the laws of the netherlands ( to be converted into a limited liability company ( naamloze vennootschap ) prior to the subscription closing ), having its official seat in amsterdam, the netherlands, and registered with the dutch trade register under number 83012559 ( the “ company ” ), orion merger sub corp., a delaware corporation and a wholly - owned subsidiary of the company ( “ merger sub ” ), wall box chargers, s. l., a company organized under the laws of spain ( “ wallbox ” ), and the other parties thereto, pursuant to which, among other things, ( i ) the shareholders of wallbox will contribute their shares of wallbox to the company in exchange for the issue of the company ’ s ordinary shares ( “ ordinary shares ” ) to such shareholders, with wallbox becoming a wholly - owned subsidiary of the company, ( ii ) the merger sub will merge with and into the spac, with the spac as the surviving company of the merger and becoming a wholly - owned subsidiary of the company, ( iii ) securities of the spac will be automatically cancelled and reissued ( the “ new spac securities ” ), which securities will be exchanged with an exchange agent ( the “ exchange agent ” ) for the right to receive securities of the company, and ( iv ) the exchange agent will contribute the new spac securities to the company, which in exchange will issue securities of the company to the exchange agent for the benefit of the securityholders of the spac, each of the undersigned desires to subscribe for and accept from the company, and the company desires to issue to the undersigned, that number of ordinary