Blink Charging (NASDAQ:BLNK) stock is on the rise Thursday after announcing a deal that will bring more of its electric vehicle (EV) chargers to New York.
This deal has Blink Charging providing Four Brothers Pizza Inn with 42 charging ports at 10 of the company’s locations. That includes “restaurants in Dover Plains, Hillsdale, Pleasant Valley, Millerton, Mahopac, Rhinebeck, and Valatie, as well as their drive-in movie theater location in Amenia and the Millerton Inn and Yiannis Hotel in Chatham.”
The 42 charging points will come from 21 of Blink Charging’s dual-port fast IQ 200 chargers. These chargers are being made available to Four Brothers Pizza Inn at little to no cost to either company. That’s thanks to New York State Energy Research and Development Authority and Make Ready incentives offered by New York utilities.
Brendan Jones, president and CEO of Blink Charging, said this about the deal sending BLNK stock higher today.
“As electric vehicle use continues to gain popularity, drivers are looking for convenient and reliable charging options at dining establishments and entertainment venues, where they can park and charge. We’re pleased to have this opportunity to partner with Four Brothers, an historical and respected family business, utilizing our owner/operator model.”
Blink Charging will be using local load management for the chargers. This allows them to work off of a single 100-amp circuit. With these, the chargers can provide up to 80 amps of power.
As for BLNK stock trading today, more than 5.6 million shares have changed hands. That hasn’t quite reached the company’s daily average trading volume of 8.5 million shares.
BLNK stock was up 11.4% as of Thursday morning and is up 20.7% since the start of the year.
Blink Charging has been benefitting from pushes for green energy by the government, but it’s not the only one.
Loads of other companies are also seeing the benefits of local and federal governments bolstering the EV market. Other examples include Tesla (NASDAQ:TSLA), Nio (NYSE:NIO), Fisker (NYSE:FSR), and others. Investors can learn more about the latest EV news at the links below.
More EV Stocks News
- Goldman Sachs EV Stocks: Analysts Recommend Fueling Up With These 6 Stocks
- Nio Stock Is Priced to Deliver Upside to EV Investors
- Fisker Stock Remains a Formidable EV Contender
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.