Blink Charging to Provide Mack Trucks’ Customers with Fleet EV Infrastructure

Rhea-AI Summary

Blink Charging Co. (NASDAQ: BLNK) has been selected as a full-service EV infrastructure provider for Mack Trucks through Mack’s Vendor Direct Ship and Turnkey Solutions program. This partnership will enable Mack Trucks' customers to have access to Blink’s EV equipment specially designed and optimized for fleets. Blink Charging Co. also announced plans to expand operations in the United Kingdom and Ireland by launching its advanced EQ 200 charger, continuing its global expansion initiative. The company's third-quarter results evidenced a notable increase in revenues by 152%, totaling approximately $43.4 million, and a surge in gross profits by 167% to roughly $12.8 million in contrast to Q3 2022.

Positive

• Blink Charging Co. selected as a full-service EV infrastructure provider for Mack Trucks
• Notable increase in revenues by 152%
• Surge in gross profits by 167%

Negative

• None.

Mack Trucks’ customers will now have access to Blink’s EV equipment specially designed and optimized for fleets.

Miami Beach, Fla., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global manufacturer, owner, operator and provider of electric vehicle (EV) charging equipment and services, today announced it has been selected as a full-service EV infrastructure provider for Mack Trucks through Mack’s Vendor Direct Ship and Turnkey Solutions program.

Mack Trucks selected Blink and its reliable, scalable EV equipment and extensive fleet expertise. As operators look to electrify their fleets, Blink and its advanced EV charging products provide dedicated expertise to help accurately assess particular fleet needs to optimize infrastructure services and provide end-to-end software solutions. Additionally, Blink has commenced deploying workplace chargers at multiple Volvo and Mack facilities nationwide.

“We applaud the efforts of Mack for their forward-thinking in advancing fleet electrification and we are excited to be selected as a charging partner in their Turnkey Solutions program, providing reliable and advanced charging solutions,” said Jim Nemec, Chief Revenue Officer at Blink Charging. “Building a dependable charging infrastructure is vital in keeping electric fleets operational and on the road. We look forward to continuing to work with Mack as they move to bring e-mobility to fleets around the country.”

Mack Trucks' Turnkey Solutions program covers all phases of infrastructure development. Encompassing initial site consultations, acquisition of charging hardware and software, permit procurement, installation processes, liaising with utility companies, and maintenance of the charging equipment. It also helps fleets find incentives and write grant proposals.

“Our charging partnerships and the Turnkey Solutions program as a whole will enable customers to more easily manage the development and installation of infrastructure for the Mack MD Electric and Mack LR Electric vehicles,” said Ryan Saba, Mack energy solutions manager. “The strategic partnerships Mack has in place will aid customers with support, including charger uptime. This is a key differentiator for Mack since charging components continue to be difficult to secure.”

This news follows Blink’s robust third-quarter results, evidencing a notable increase in revenues by 152%, totaling approximately $43.4 million, and a surge in gross profits by 167% to roughly $12.8 million in contrast to Q3 2022. Blink also announced plans to expand operations in the United Kingdom and Ireland by launching its advanced EQ 200 charger, continuing its global expansion initiative.

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About Blink Charging

Blink Charging Co. (Nasdaq: BLNK), a global leader in electric vehicle (EV) charging equipment, has contracted, sold, or deployed nearly 85,000 charging ports worldwide, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations. Blink’s principal line of products and services includes the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including SemaConnect, Blue Corner, BlueLA and Envoy. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. With global EV purchases forecasted to half of passenger cars sold in the US by 2030, Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs. 
For more information, please visit https://blinkcharging.com/. 

Forward-Looking Statements

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should” or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Media Contact 
Jon Myers 
PR@BlinkCharging.com 
(786) 706-6709 

Blink Investor Relations Contact 
Vitalie Stelea 
IR@BlinkCharging.com 
(480) 805.8594 

FAQ

What is the latest partnership announced by Blink Charging Co. (NASDAQ: BLNK)?

Blink Charging Co. has been selected as a full-service EV infrastructure provider for Mack Trucks through Mack’s Vendor Direct Ship and Turnkey Solutions program.

What were the third-quarter financial results of Blink Charging Co. (NASDAQ: BLNK)?

The company evidenced a notable increase in revenues by 152%, totaling approximately $43.4 million, and a surge in gross profits by 167% to roughly $12.8 million in contrast to Q3 2022.

What are the expansion plans of Blink Charging Co. (NASDAQ: BLNK)?

Blink Charging Co. announced plans to expand operations in the United Kingdom and Ireland by launching its advanced EQ 200 charger, continuing its global expansion initiative.