Blink Sees Benefit From Shift to Tesla Charging Standard
[Stay on top of transportation news: Get TTNews in your inbox.]
The auto industry’s rapid shift to using Tesla Inc.’s charging standard for other electric cars will benefit Blink Charging Co., the company’s CEO said during its second-quarter earnings call.
Automakers including Ford Motor Co. and General Motors Co. recently announced they would switch to using Tesla’s North American Charging Standard, largely so buyers of their new electric vehicles would have access to Tesla’s network of public charging stations.
Although Blink operates a competing network, CEO Brendan Jones said his company was well positioned to offer stations with Tesla-style plugs.
“We view the adoption of NACS as a positive development for Blink,” he said.
#BlinkCharging announced record second quarter with 186% revenue growth and a 528% increase in gross profit. ⚡️📣 $BLNK #EVcharging
Learn More: https://t.co/ccSxIwFrbC — Blink Charging (@BlinkCharging) August 8, 2023
Blink, based in Miami Beach, Fla., on Aug. 8 reported a 186% jump in quarterly revenues year over year, to $32.8 million, as EV sales grow. The company also raised its guidance for annual revenue, forecasting $110 million to $120 million.
Want more news? Listen to today's daily briefing below or go here for more info:
