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, is expanding
its footprint in Latin America (LATAM) to become a leader in
growing the EV charging market within the region. Notably, Latin
America experienced a remarkable 57% surge in EV charger sales
during the first quarter of 2023 compared to the figures at the
close of 2022.
Since its entry into the Latin American market
in 2020, Blink has firmly established a strong presence, having
sucessfuly sold or deployed more than 2,100 EV chargers across
eight countries. The Company's success can be attributed to its
wide, diverse range of state-of-the-art and user-friendly product
offerings, encompassing Level 2 chargers tailored to different plug
types commonly found throughout LATAM. Notable products include the
IQ 200 charger, the residential HQ 200 charger compatible with the
type 1 J1772 (American) plug, and the EQ 200 charger for the type 2
(European) connector. As the EV fleet industry’s growth in the
region soars, Blink also offers the MQ 200 charger and a variety of
DC Fast Chargers (DCFC) to meet diverse charging needs. Within the
next few months, Blink also plans to launch DCFC, commercial and
residential Level 2 chargers equipped with GB/T plugs effectively
addressing the escalating demand for Chinese-manufactured EVs in
the region.
“To prepare for and embrace an electrified
future in Latin America, our efforts throughout the region –
focused on developing and offering the most advanced EV charging
technologies – are immense,” said Juan C. Barahona, US & Global
Director of Operations for Blink Charging. “Blink is also closely
monitoring the evolving needs of the region guaranteeing our
continued provision of products and services essential to support
the distinct EV implementation goals in each individual
country.”
Blink's commitment to driving the advancement of
transportation electrification in Latin America has been
particularly strong in Mexico and Central America. EV chargers have
been sucessfuly sold or deployed in a range of LATAM countries
including Mexico, Guatemala, El Salvador, Honduras, Costa Rica,
Panama, Jamaica, Puerto Rico, Dominican Republic, Turks and Caicos
Islands, Aruba, Colombia, Chile, Paraguay and Uruguay. Moreover,
the Company has ambitious expansion plans, including entry into
Brazil, Argentina, and Peru. In light of its vison, the Company
emphasizes the importance of education and knowledge collaboration
as the initial step toward promoting widespread EV adoption.
Mexico is poised to become one of the top three
leaders in the Latin American EV market, with Blink already having
sucessfully sold or deployed over 840 chargers within the country.
Blink’s efforts support the growing EV production in the country,
expected to reach a notable 148,000 units thus far in 2023. The
Mexican government has committed to ensuring that 50% of all cars
sold domestically by 2030 will be EVs, thereby necessitating swift
development of EV charging infrastructure.
Meanwhile, in Costa Rica, one of the most
developed EV markets in Central America, the government extended
tax incentives and procurement program benefits to support
zero-emission vehicle (ZEV) targets. The goal is to achieve
transition to 100% ZEV status within passenger light-duty vehicle
(LDV) sales and all buses and taxis by 2050. Significantly, in
February 2023, Blink announced a strategic agreement with three
Costa Rican companies, GBT, RQL, and SBS, to install a public
network of Blink charging stations in the country. The first 14
Blink EV charging ports installed included the Company’s IQ 200
dual and single port chargers. Additionally, these agreements
encompass the retail selling of Blink’s home charging unit, the
HQ150 and HQ200.
Colombia has established procurement programs
for electric buses across several cities, aligned with national
goals of achieving 10% ZEV urban bus sales by 2025 and 100% by
2035. Along with being the first country in Latin America to pass
legislature to support an EV future, the Colombian Ministry of
Mines and Energy has granted an exemption from the energy
consumption tax for electricity used at EV charging stations and
within public transportation, thereby further fostering the
widespread of EV adoption.
Home to one of the largest electric urban bus
fleets in the world, Chile is also making significant strides in
electric mobility. The country recently announced its National
Electromobility Strategy, targeting 100% ZEV in LDV sales by 2030
and 100% ZEV in public transport vehicles by 2035. These efforts
have yielded a remarkable year-on-year increase of 263% in electric
LDV sales since 2021.
In El Salvador, the enactment of the Law of
Promotions and Incentives for the import and utilization of
electric and hybrid transportation is promoting a similarly
promising EV future. Blink Charging is collaborating with AES El
Salvador, an energy solutions company, to establish a network of
charging stations that will provide comprehensive support to its
electric fleet operations across the country.
Being one of the few fully vertically-integrated
EV charging infrastructure companies operating in Latin America,
Blink introduces distinctive solutions that impact every step of
the process – from design to manufacturing and deployment – with
the flexibility of developing products for the specific needs of
these emerging markets, while offering a variety of business models
that facilitate access to EV infrastructure.
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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 73,000 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://www.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 305-521-0200 ext. 266
Blink Investor Relations
Contact Vitalie Stelea IR@BlinkCharging.com 305-521-0200
ext. 446
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