(Reuters) – In a significant development, Blink Charging, the well-known maker of electric vehicle (EV) charging equipment, announced on Monday its plans to roll out a new fast charger. The charger will be compatible with Tesla’s connector, signaling an industry shift away from the conventional Combined Charging System connector used by a host of automakers.
Recently, automotive giant General Motors (GM) disclosed its intentions to align with Ford in adopting Tesla’s previously exclusive North American Charging Standard (NACS) port. Analysts predict this move will solidify the NACS port’s dominance, capturing 60% of the U.S. EV market, thanks to these strategic partnerships.
Financial services firm Piper Sandler anticipates that by 2032, Tesla will generate around $9.65 billion from its charging network. Remarkably, over half of these sales are expected to come from other EV manufacturers utilizing the network.
Teased at the Consumer Electronics Show (CES) 2023, Blink’s new Direct Current (DC) fast charger – offering both NACS and Combined Charging System connectors – is in the concluding phases of its design. Blink’s shares enjoyed a 1.2% boost to $6.03 in pre-market trading following the announcement.
“Blink is clearly witnessing the continued evolution of the EV charging industry as technologies advance and industry stakeholders evaluate best practices,” the company expressed, commenting on recent declarations by Tesla, GM, and Ford.