Crescent Heights Unveils Envoy's Premium EV Car-Sharing at Forma Miami Residences
- Partnership with premium real estate brand Crescent Heights expands Envoy's market presence
- Integration into luxury property enhances Blink Charging's visibility in high-end market segment
- Expansion into South Florida market with plans for growth in other key U.S. cities
- Revenue generation through multiple streams: hourly rentals, B2B partnerships, and fleet optimization
- Limited initial deployment with only one Tesla Model 3 at the property
- High dependence on luxury real estate segment may limit broader market penetration
Insights
Envoy's deal with Crescent Heights adds one Tesla to a luxury property with minimal impact on Blink's revenues.
This announcement represents a modest business development for Blink Charging's subsidiary Envoy, with minimal financial impact on the parent company. The deployment consists of just one Tesla Model 3 at a single luxury Miami property. While the press release emphasizes the prestigious nature of the Crescent Heights partnership and suggests future expansion potential across their portfolio, the current implementation is extremely limited in scale.
Envoy's business model generates revenue through hourly rentals, B2B partnerships, and fleet optimization, but a single-vehicle deployment will produce negligible income. The strategic value lies in establishing a relationship with Crescent Heights, which owns numerous luxury properties nationwide, potentially creating a pipeline for future deployments.
For context, this type of small-scale deployment represents Envoy's typical implementation strategy - starting with a minimal presence and expanding based on utilization data. However, investors should recognize that each individual property deployment has minimal revenue impact. Meaningful financial contribution would require hundreds or thousands of such implementations.
While the press release positions this as a significant expansion in South Florida, the material impact to Blink's operations or financials is extremely limited in the near term. The announcement primarily serves as a marketing tool highlighting Envoy's continued business development activities rather than a financially material event.
MIAMI, FL, June 11, 2025 (GLOBE NEWSWIRE) -- Envoy Technologies Inc. ("Envoy"), a Blink Charging Co. entity and leading provider of on-demand electric vehicle (EV) car-sharing services for real estate communities, has announced the launch of its electric vehicle car-sharing service at Forma Miami Residences ("Forma Miami"), a premier luxury residential development owned and operated by Crescent Heights. The announcement marks Envoy's first collaboration with the renowned national real estate brand and represents a significant expansion of Envoy's footprint in the South Florida market.
Forma Miami, a distinctive architectural landmark designed by world-renowned architect Kobi Karp, now offers its residents exclusive access to a Tesla Model 3 through Envoy's amenity-based mobility platform service. This addition enhances Forma Miami's existing luxury offerings and prime Brickell location, further elevating the property's status in Miami's competitive luxury real estate market.
"Our inaugural collaboration with Crescent Heights at Forma Miami brings together two innovation leaders in their respective industries," said Aric Ohana, CEO & co-founder of Envoy. "By integrating our car-sharing service, we're providing a cutting-edge amenity that aligns perfectly with Crescent Heights' reputation for pioneering luxury living experiences that anticipate and exceed resident expectations."
Envoy deploys EVs as exclusive, on-site amenities at apartments, hotels, and offices, monetizing through hourly rentals, B2B partnerships, and fleet utilization optimization. Envoy's intuitive mobile app enables Forma Miami residents to reserve and access the Tesla Model 3, adding a new dimension of convenience and luxury to urban living.
"Introducing Envoy's electric vehicle car-sharing at Forma Miami continues our tradition of industry-first innovations," said Kevin Reichert, National Development Manager at Crescent Heights. "Many of the features offered at Forma, from its first-in-South Florida residential Mitsubishi Electric destination elevators to its very own Somadome meditation pod, are unprecedented in our industry and set a new standard for apartment living. This collaboration with Envoy delivers yet another best-in-class service that elevates the resident experience in ways that only Crescent Heights properties can offer."
As remote work and flexible lifestyles reshape urban transportation needs, Forma Miami's Envoy service offers a cost-effective, zero emissions alternative to vehicle ownership, supporting sustainability while eliminating parking and maintenance hassles for residents.
"We're thrilled to establish this relationship with Crescent Heights, beginning with its flagship Forma Miami property," added Ohana. "This launch represents the first of what we hope will be many collaborations across an impressive national portfolio of luxury residential developments."
Envoy operates a vertically integrated car-sharing model, combining vehicle leasing, telematics insurance, and fleet management to deliver a turnkey mobility solution. Envoy's expansion in Miami includes several other luxury properties, with plans for continued growth throughout South Florida and in key cities across the US.
About Envoy
Envoy is a pioneering EV fleet technology and electric car-sharing service provider headquartered in Culver City, California. Envoy offers a flagship all-electric car-sharing services in the United States for private property amenities. Envoy’s amenity service delivers electric car-sharing as a premium amenity perk for private properties such as apartments, hotels, and workplaces. By cooperating with Envoy, real estate owners and operators can introduce a cutting-edge amenity that enriches the lives of their residents, members, and guests enhancing mobility as part of their lifestyle. Envoy’s amenity services support nationwide goals to reduce parking demand and individual car ownership. Developers can leverage Envoy’s inclusion in their projects to access development incentives, aligning with urban development goals. On February 12th, 2025, Blink Charging announced that it had publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission. On May 1st 2025, Blink Charging further announced that it has filed amendment No. 2 to the S-1 for the direct listing of Envoy’s stock on Nasdaq stock Market.. Property managers and developers interested in enhancing their offerings with Envoy's services are encouraged to visit https://www.envoythere.com/nominate.
About Crescent Heights
Crescent Heights is one of America's largest and most respected developers of high-rise luxury condominiums and rental apartments. For over four decades, the company has set the standard for urban luxury living across the nation, with landmark developments in major cities including Miami, Los Angeles, New York, San Francisco, Chicago, and Seattle. Crescent Heights is known for its innovative approach to residential development, combining cutting-edge design with premium amenities and services.
(Crescent Heights is a registered trademark).
About Forma Miami Residences
Forma Miami Residences is a luxury residential development located in the heart of Miami's Brickell neighborhood. Owned and operated by Crescent Heights, this distinctive property features world-class architecture and amenities, offering residents an unparalleled urban living experience with convenient access to Miami's vibrant cultural, dining, and entertainment scenes.
Envoy Media Contact
Marilyn Mota
Marketing Manager
pr@envoythere.com
Blink Media Contact
Felicitas Massa
PR@BlinkCharging.com
305-521-0200 ext. 266
Blink Investor Relations Contact
Vitalie Stelea
IR@BlinkCharging.com
305-521-0200 ext. 446
FAQ
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