Blink Charging (NASDAQ:BLNK) stock is getting a boost on Tuesday from a deal with General Motors (NYSE:GM) for its electric vehicle (EV) chargers.
Let’s dive into that news below and see why investors are celebrating today!
- Blink Charging has signed a deal with GM to provide it with EV chargers.
- That includes its car dealerships in the U.S. and Canada.
- This will have it working with ABM to supply IQ 200 Level 2 chargers to GM.
- BLNK notes that it is already supplying chargers to some GM locations.
- It plans to expand to these new locations over the next few months.
- The company notes that these chargers are its fastest Level 2 AC charging stations available.
- They produce 80 Amps of output, which provides EVs with 19.2kW.
- That allows for reduced charging time.
- To go along with that, its local load management allows for two to 20 chargers to run on a single circuit.
Michael D. Farkas, Founder and CEO of Blink Charging, said this in the news release sending BLNK stock higher today!
“We are proud to bring Blink’s EV charging stations to GM dealerships, providing the vital infrastructure needed to charge GM’s growing lineup of EV models. As transportation continues to shift towards becoming more electric, Blink’s technologically advanced EV charging infrastructure will help play a significant role in accelerating EV mass adoption.”
BLNK stock is also seeing heavy trading today with the GM news. As a result, some 4 million shares have changed hands as of this writing. That’s already above the company’s daily average trading volume of 3.4 million shares.
BLNK stock is up 9.7% as of Tuesday afternoon.
There’s more stock market news for investors to dive into below!
We’ve got all of today’s hottest stock market news that investors need to know about. That includes what’s happening with shares of NeuroMetrix (NASDAQ:NURO) stock, Digital World Acquisition (NASDAQ:DWAC) stock, as well as Activision Blizzard (NASDAQ:ATVI) stock. You can find all of that and more at the following links!
More Tuesday Stock Market News
- NURO Stock: Why NeuroMetrix Investors Are Feeling No Pain Today
- DWAC Stock: What Digital World Acquisition Bulls Are Saying as Share Climb Today
- Activision Blizzard Stock News: 8 Things to Know About Microsoft’s Big Gaming Buy
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.