Blink Charging Co Stock Price, News & Analysis

Blink Charging Co. (NASDAQ: BLNK) has officially rebranded EB Charging to Blink Charging UK, enhancing its presence in the UK and Ireland. This strategic move follows the acquisition of EB Charging in April 2022 and now includes over 1,225 chargers across the region. The EV market in the UK is experiencing growth, with electric vehicles accounting for nearly 17% of new vehicle registrations last year. Blink aims to leverage this surge in EV adoption by expanding its charging network. The rebranding also involves a refreshed brand look and mobile app update, emphasizing Blink's commitment to advancing EV infrastructure.

Blink Charging Co. (NASDAQ: BLNK) has secured a Multiple Award Schedule (MAS) contract from the U.S. General Services Administration (GSA), enhancing accessibility to its electric vehicle (EV) charging products for federal government agencies. This contract facilitates an efficient purchasing process through GSA Advantage!, allowing government entities to procure Blink’s best-in-class EV charging solutions.

According to Blink, this milestone is expected to significantly increase federal purchases of EV charging equipment in the coming years. Blink's operational capacity includes nearly 66,000 charging ports across 27 countries and strategic partnerships to support widespread EV adoption.

Blink Charging Co. has announced the integration and rebranding of SemaConnect India following its acquisition in June 2022. This strategic move enhances Blink's presence in the growing Indian EV market, where forecasts predict 12-13 million new two-wheel EVs and 1 million four-wheel EVs annually by 2030.

With over 100 EV chargers already deployed in major cities, Blink aims to address the projected 30 million unit demand for EV chargers in India with its newly launched Series 3 product designed for two- and three-wheel vehicles.

Blink Charging Co. (NASDAQ: BLNK) has secured an IDIQ contract with the US Postal Service to supply up to 41,500 EV charging units as part of their electrification strategy. The contract will see Blink provide its Series 7 dual-port chargers, each offering up to 80 amps of power, facilitating simultaneous charging. This development supports Blink's mission to promote sustainable practices and enhance EV infrastructure. The Postal Service's transition to electric vehicles marks a significant shift in fleet management, potentially influencing other organizations to adopt similar sustainability initiatives.

Blink Charging Co (Nasdaq: BLNK) supports the U.S. Department of Transportation's newly established Charging and Fueling Infrastructure (CFI) program, which allocates $2.5 billion for community electric vehicle (EV) charging projects. CEO Michael D. Farkas emphasized the essential role of Level 2 chargers in providing equitable access to charging across diverse urban and rural settings. Blink plans to expand manufacturing capabilities in Maryland to meet rising demand for EV charging solutions. The company has deployed around 66,000 charging ports globally and aims to partner with local governments to enhance community charging infrastructure.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has launched its redesigned portable EV charger, enhancing emergency charging for electric vehicles (EVs). The new device, rated at 32 amps, can provide up to 1 mile of range per minute, allowing stranded vehicles to reach charging stations without towing. The compact charger is compatible with all EVs and has Wi-Fi connectivity for charging fees. Blink emphasizes its commitment to expanding charging infrastructure as the EV roadside assistance market is projected to grow to nearly $35 billion by 2030. This innovative product aims to address the needs of fleet operators, insurance companies, and roadside assistance providers.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced that CEO Michael D. Farkas will present at the 35th Annual Roth Conference on March 13, 2023, at 9:25 a.m. PT. The company will engage in one-on-one meetings on March 13 and 14, 2023. Interested investors can view the presentation virtually at this link.

Blink Charging has over 66,000 EV charging ports across 25 countries, focusing on expanding its network amid rising global EV purchases expected to reach 10 million by 2025. The company offers a wide range of EV charging solutions through its innovative Blink Network.

Blink Charging Co. reported significant revenue growth for 2022, with total revenues increasing 192% to $61.1 million compared to $20.9 million in 2021. In Q4 2022, revenues rose 184% to $22.6 million, driven by a 213% rise in service revenues. The gross profit surged 370% to $6.5 million in Q4 2022. Blink's acquisition strategy, notably integrating SemaConnect and EB Charging, has enhanced its market position. The company also closed a $100 million public offering to bolster its growth. Looking ahead, Blink targets $100-$110 million in revenues for 2023, marking a strong start to capitalize on the growing electric vehicle market.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) will present at Citi's 2023 Global Industrial Tech and Mobility Conference on February 23, 2023, at 10:30 a.m. ET. Brendan Jones, the President of Blink, will lead the presentation, which will also include opportunities for one-on-one meetings throughout the day.

Investors can access the virtual presentation via the provided link. Blink Charging, known for its extensive EV charging network, has over 66,000 charging ports across 27 countries. With forecasts indicating a rise to 10 million EV purchases by 2025, the company is strategically partnering for expansion across various location types.