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Miami Beach, FL, July 22, 2022 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator, and provider of electric vehicle (“EV”) charging equipment and services, applauds the Biden Administration and the USPS for taking a substantial step forward in moving the country toward greater electric vehicle (EV) adoption. On July 20, 2022, the U.S. Postal Service (USPS) announced plans to electrify at least 40 percent of its new delivery fleet. Currently, the Postal Service operates the largest vehicle fleet in the United States, with over 200,000 delivery and mail collection vehicles.
“The United States Postal Service announcement is a victory for the entire EV industry,” said Blink Charging Founder and CEO Michael Farkas. “I commend the Biden Administration and members of Congress who have advocated for including more EVs in the postal fleet. Purchasing EVs is just the first step in developing a complete EV transition.”
The increase in the number of electric vehicles to 40 percent in the Next Generation Delivery Vehicle (NGDV) is significant as USPS has ordered only 10,019 EVs out of an initial order of 50,000 vehicles, and it has stated in the past that only 10% of the vehicles purchased over the life of the contract will be electric. Additionally, while including many more EVs in the NGDV program, the Postal Service also stated that it would purchase 34,500 Commercial off-the-shelf vehicles over a two-year period.
Mr. Farkas added that “Substantially increasing the proportion of EVs in the postal fleet is a vital step, but much more can be done to increase the number of EVs across the country.”
“As the Postal Service plans for charging its future fleet, Blink has the solutions that will benefit both the Postal Service and the American people,” continued Farkas. “We look forward to working with the Biden Administration, Congress, and individual states to ensure that the nation’s charging infrastructure will meet Americans’ rapidly growing demand for EVs.”
About Blink Charging
Blink Charging Company (Nasdaq: BLNK, BLNKW), a leader in electric vehicle (EV) charging equipment, has deployed over 48,000 charging ports across 19 countries, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations worldwide. Blink’s principal line of products and services include 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 and BlueLA. 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 rise to 10 million vehicles by 2025 from approximately 2 million in 2019, 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/.
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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