(Reuters) – Electric vehicle charging equipment maker Blink Charging said on Monday it will launch a new fast charger with Tesla’s connector, as the industry moves away from the standard Combined Charging System connector used by many automakers.
Last week, General Motors (GM) said it would join Ford in adopting Tesla’s previously proprietary North American Charging Standard (NACS) port, which is set to dominate 60% of the U.S. EV market with the partnerships.
Brokerage Piper Sandler expects Tesla’s revenue from its charging network to reach about $9.65 billion in 2032, with more than half the sales coming from other EV makers making use of the network.
Blink’s new direct current (DC) fast charger, offering both NACS and Combined Charging System connectors, was teased at the Consumer Electronics Show (CES) 2023 and is in the final stages of design, the company said.
Its shares rose 1.2% to $6.03 in trading before the bell.
“Given recent announcements by Tesla, GM, and Ford, we are clearly witnessing the continued evolution of the EV charging industry as technologies advance and industry stakeholders come together and evaluate best practices,” Blink said.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)
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