The electric vehicle (EV) charging debacle is switching into another gear this week after the announcements of Ford and GM to adopt Tesla’s North American Charging Standard (NACS) connectors for newer EVs. As it turns out, Blink Charging, a manufacturer of electric vehicle charging equipment, has announced its plans to introduce a new fast charger that incorporates Tesla’s connector. This move comes as the industry shifts away from the standard Combined Charging System (CCS) connector, which has been widely used by various automakers.
Recently, General Motors (GM) made headlines by joining Ford in adopting Tesla’s previously proprietary NACS port. This decision is expected to establish NACS as the dominant port, capturing a significant 60% share of the U.S. EV market through these partnerships.
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According to brokerage firm Piper Sandler, Tesla’s revenue from its charging network is projected to reach approximately $9.65 billion by 2032. It is anticipated that over half of this revenue will be generated from other EV manufacturers utilizing Tesla’s charging network.
Blink Charging had previously teased its new direct current (DC) fast charger, which offers compatibility with both NACS and CCS connectors, at the Consumer Electronics Show (CES) in 2023. The company has now confirmed that the charger is in the final stages of design.
Following the announcement, Blink Charging’s shares experienced a modest increase of 1.2% in pre-market trading, reaching $6.03.
Blink expressed its view on the industry’s ongoing evolution in the EV charging sector, highlighting the advancements in technology and the collaboration among industry stakeholders in evaluating and implementing best practices.
