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EV News: SG Blocks Stock Soars 48% on Blink Charging Deal

SG Blocks (NASDAQ:SGBX) and Blink Charging (NASDAQ:BLNK) are leading electric vehicle (EV) news for Friday after announcing a partnership.

a blink charging station
Source: David Tonelson/Shutterstock.com

The deal between SG Blocks and Blink Charging will have them working together on charging stations for EVs. This will have SGBX and BLNK creating solar-powered charging containers that will make use of the latter’s IQ 200 and DCFC charging stations.

SG Blocks and Blink Charging are eyeing two different sizes for the charging stations. That includes a 20-foot model that will offer four 80-amp charging stations. The second is a 40-foot model that will include eight 80-amp charging stations.

The SG Blocks and Blink Charging news also breaks down how the EV charging stations will get power. The stations will use a combination of solar panels and batteries to provide EVs with juice.

SG Blocks will be handling all of the industrial design, architecture, and engineering specifications for the stations. Blink Charging’s part will have it handling the design, engineering specifications, and parameters of the stations, as well as their use.

Michael Farkas, founder and CEO of Blink Charging, said this about the EV news.

“By deploying our leading EV charging technology in SG Blocks’ modular structures, Blink expects to be able to greatly increase our geographic footprint supporting the growing number of electric vehicles and the need for increased charging locations.”

SGBX stock was up 48% and BLNK stock was up 6.8% as of Friday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/10/blink-charging-ev-news-boosts-sg-blocks-stock/.

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