Blink (BLNK) to Add NACS Connectors Into Entire Product Line
Blink Charging Co. BLNK announced that to meet the charging needs of electric vehicle (EV) drivers, irrespective of the model, it will incorporate both North America Charging Standard (NACS) and Combined Charging System (CCS) plugs into its product line.
Per an article published by Bloomberg, by 2030, just over half of passenger cars sold in the US will be electric vehicles. Keeping the growing demand for charging in perspective, Blink claims that it is well-positioned to produce universally accessible EV chargers under the Biden Administration’s Buy America program.
Brendan Jones, president and CEO of Blink Charging, said that since the announcement of the integration of NACS connectors into its new 240 kW DC Fast Charger, the company has diligently advanced the integration of NACS connectors across its entire Blink charger product line.
The American EV charging network operator supports all OEMs and will ensure that it has NACS chargers to meet the needs of GM, Ford, Rivian and Volvo customers.
The company will begin the production of NACS DCFC chargers by October 2023 to establish a robust supply chain.
Besides expanding its line of DC Fast Chargers, Blink will also offer NACS inclusion in its line of Level 2 (L2) chargers. In the United States, nearly 90% of EV charging is acquired using L2 chargers. Due to this reason, providing accessible technology becomes crucial for charging network operators to minimize confusion among drivers and create a convenient and seamless EV charging environment.
Brendan Jones added that Blink’s engineering team demonstrated the swift integration of NACS connectors into the company’s line of L2 chargers, resulting in notable time-to-market savings. The company expects to release new NACS and 1772 dual units in early 2024 from its Bowie, MD, manufacturing facility.
Per the company’s CTO, Harjinder Bhade, Blink has been working closely with connector manufacturers and vendors to ensure the availability of the equipment required to fulfill the evolving needs of EV drivers.
Zacks Rank & Key Picks
BLNK currently carries a Zacks Rank #3 (Hold).
Some top-ranked players in the auto space are Allison Transmission Holdings, Inc. ALSN, Li Auto, Inc. LI and Wabash National WNC, each carrying a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison manufactures fully automatic transmissions for medium and heavy-duty commercial and heavy-tactical U.S. defense vehicles. ALSN shares are up 33.6% year to date.
The stock has a VGM Score of A. The Zacks Consensus Estimate for its current-year earnings has moved up 9.1% over the past 60 days. The company’s expected earnings growth rate for the current year is 19.53%.
Li Auto designs, develops, manufactures and sells premium smart electric SUVs. Li shares are up 71.9% year to date.
Li Auto carries a VGM Score of B. The company’s expected earnings growth rate for the current year is 2,400%.
Wabash is one of the leading manufacturers of semi-trailers in North America. WNC shares are up 11.2% year to date.
Wabash has a VGM Score of B. The Zacks Consensus Estimate for its current-year earnings has moved up 47.9% over the past 60 days. The company’s expected earnings growth rate for the current year is 90.67%.
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Allison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis Report
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