BYD’s Official Dealership in Mexico, Owned and Operated by Grupo Fame, Selects Blink Charging for EV Charging Products and Services
Blink Charging announced its selection by Grupo Fame, a major Mexican BYD dealership group, to provide EV charging services across select locations.
Blink Level 2 chargers have been installed at Grupo Fame’s dealership in Querétaro, with stations in Morelia and Hermosillo to follow soon. Each location will feature Blink 60kW DC fast chargers with GBT ports capable of charging two vehicles simultaneously, marking the first public DCFCs with GBT ports in Querétaro.
The installation in Querétaro is expected next month. Blink's COO, Mike Battaglia, emphasized the partnership’s role in advancing EV acceptance, while Angel Solis, Manager at Grupo Fame, highlighted their pioneering efforts in EV adoption in the region.
- Blink Charging selected by a major Mexican dealership group, increasing its market presence.
- Installation of Blink Level 2 chargers at key locations in Querétaro, with more installations in Morelia and Hermosillo imminent.
- Introduction of the first public DC fast chargers with GBT ports in Querétaro, enhancing Blink's technological footprint.
- Partnership with Grupo Fame could drive further growth and adoption of EV technology in Mexico.
- Blink’s chargers will help Grupo Fame meet the growing EV driver needs, potentially boosting sales.
- No immediate revenue figures disclosed, which could leave investors uncertain about financial impacts.
- Future installations are pending, which introduces uncertainty regarding completion timelines.
- Dependence on successful adoption and usage by consumers in Mexico, which is not guaranteed.
Insights
Blink Charging's partnership with Grupo Fame is a noteworthy development for investors monitoring the advancement of EV infrastructure in emerging markets. Blink's installation of Level 2 and DC fast chargers in key dealership locations across Mexico signals a strategic move to capture a growing segment of the EV market. Grupo Fame's backing provides Blink with a robust platform for expansion, leveraging the dealership group's extensive reach.
The immediate short-term impact could include increased revenue from the sale and installation of these charging units, providing a much-needed boost to Blink’s financials. In the long term, this partnership could enhance Blink's market presence and brand recognition in Latin America, a region with significant potential for EV adoption. Investors should look out for increases in revenue from international markets in Blink’s future earnings reports as a KPI for the success of this partnership.
This collaboration also highlights the growing demand for EV infrastructure in regions beyond the traditionally strong markets like North America and Europe. Latin America, especially Mexico, is gradually embracing EV technology, spurred by both environmental regulations and consumer interest. Grupo Fame's decision to integrate Blink's chargers into their dealerships is a testament to the increasing necessity of reliable charging solutions.
From a market positioning perspective, Blink Charging gains a competitive edge by being among the first to introduce advanced charging infrastructure with native GBT ports to this market. GBT ports are a specific type of port used in certain EVs, often associated with Chinese manufacturers like BYD. As more Chinese EVs penetrate the market globally, the compatibility of Blink's chargers could become a significant advantage.
The introduction of Level 2 chargers and 60kW DC fast chargers is pivotal. These chargers can significantly reduce the time needed to recharge EVs, making EV ownership more viable for a broader audience. Level 2 chargers typically add about 25-30 miles of range per hour, suitable for overnight charging, while 60kW DC fast chargers can add up to 200 miles in an hour, catering to those needing quick turnaround times.
With the first-ever publicly available DCFCs featuring GBT ports in Queretaro, Blink is setting a benchmark in charging technology. This move aligns with the global shift towards faster and more efficient charging solutions, addressing one of the primary concerns of potential EV buyers: charging time.
However, the deployment of such technology must be accompanied by robust maintenance and customer support to ensure reliability and user satisfaction, something Blink has committed to providing.
Grupo Fame’s dealership location in Querétaro, Mexico, now features Blink Level 2 chargers on site, with DC fast chargers utilizing GBT ports coming soon.
Bowie, Md., May 21, 2024 (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 by official BYD dealership group, Grupo Fame, one of the largest dealership groups in Mexico, to provide EV charging services at select locations.
Blink Level 2 chargers are currently installed in the workshop and showroom at Grupo Fame’s dealership in Querétaro, while stations in Morelia and Hermosillo are expected to be operational soon. Each location will soon boast at least one Blink 60kW DC fast charger (DCFC) featuring two GBT ports, capable of simultaneously charging two electric vehicles. Grupo Fame’s Querétaro location is set to receive two DCFCs, with the installation anticipated next month. These will mark the debut of the first-ever publicly available DCFCs with GBT ports in Queretaro and will be officially inaugurated upon installation.
“We’re excited to be working with Grupo Fame and BYD to bring our cutting-edge charging technology and services to Querétaro, Morelia, and Hermosillo,” said Mike Battaglia, Chief Operating Officer at Blink Charging. “Dealerships such as Grupo Fame are the driving force behind the electrification of the auto industry and play a pivotal and dynamic role in driving forward the progress and acceptance of EV technology. We are dedicated to assisting dealerships throughout the entire process of introducing EV charging into their businesses. From project inception to charger commissioning and ongoing technical and customer support, Blink is trusted by OEMs and dealers worldwide as a reliable and valuable resource in EV charging and services.”
“As leaders in the auto dealership industry, Grupo Fame understands the impact EVs are making in the market and we plan to continue to provide EV charging solutions to meet driver needs, taking part in this growing segment of automotive sales,” said Angel Solis, Manager of Grupo Fame. “We’re happy to have found a trusted vendor that can provide state-of-the-art chargers with native GBT plugs for use in our dealerships. We are proud to be a pioneer in the region, embracing EV adoption by empowering our dealerships to sell, service, and fast charge EVs.”
In Mexico, Grupo Fame serves as the official dealership for BYD, one of the top sellers of EVs worldwide.
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About Blink Charging
Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network utilizes proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. 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.
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FAQ
What EV charging services will Blink Charging provide for Grupo Fame?
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What is significant about the Blink DC fast chargers being installed in Querétaro?
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