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Blink Charging: The Good, The Bad, And The Ugly

Mar. 02, 2020 1:18 PM ETBlink Charging Co. (BLNK)5 Comments
Alex Behrens profile picture
Alex Behrens


  • Blink Charging seems just about as good as investors can get as a pure play on EV market growth and 2020 should be a banner year.
  • Despite the second largest US network of chargers and a price premium, losses continue to mount at Blink and the business has serious margin difficulties.
  • Blink needs to make substantial progress on a number of fronts to make a worthwhile investment, but will finally have the wind at their back in the 2020s.

Blink Charging (NASDAQ:BLNK) sells and operates electric vehicle (EV) charging infrastructure around the US. BLNK sells and installs home charging equipment, operates a network of company owned charging stations, and installs charging infrastructure and provides the maintenance for partners who run operations. Growth in EV sales will be spurred in 2020 by the release of new models by several of the world’s largest auto manufacturers - Audi, BMW, Chevy, Honda, Hyundai, Jaguar, Kia, Mini Cooper, Nissan, Volkswagen, and Ford will all launch new or updated electric vehicles this year. Naturally, investors seeking to capitalize on this market reaching an inflection point look to Blink as a way to get in on the action.

Over 15,000 Blink L2 chargers are available across the US that charge at L2 speeds, about 9.6 kilowatts or 30 miles per hour - comparable in charging speed to the primary competitor, ChargePoint (over 26,000 stations). Blink and ChargePoint both sell equipment and help service their respective networks, but only Blink actually owns and operates some of their own stations. Blink does offer a premium product in L2 chargers in a handful of locations that charge at double the speed (adding 60 miles per hour of charge) but I suspect others will catch up quickly and partly negate this advantage.

The Good

Blink has the second largest network of EV charging stations in the US, with well thought out locations in dense neighborhoods and in locations where users can park and run errands or dine-in. The business recently started expanding internationally into Israel, Greece, and South Korea. Blink also recently made a deal with Google to have their stations featured when Google Maps users search for EV charging infrastructure. As it stands Blink is also the purest play available to investors to leverage the growth in non-Tesla EVs that will be a major

This article was written by

Alex Behrens profile picture
I'm a freelance writer and analyst with experience at Fortune 500 companies and startups. I do part time equity research and enjoy writing about cutting edge technology.Ithaca College BA in Finance 2014

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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