by 036Gooddaysir036
Introduction:
Blink Charging owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services primarily in the United States. It also provides the “Blink Network”, a cloud that tracks charging stations and the associated charging data. This data provides property owners, managers, and parking companies remote monitoring and management of EV charging stations and payment processing. Additionally it provides drivers with station information, info such as location, availability, and applicable fees.
Current setup:
As of December 2019 it has approx. 14,700+ EV charging stations across the US East Coast, West Coast, and locations in the Mid-West. Additionally they are expanding into Europe and the Middle East. (Can’t attach the map because rules)
The following types of locations currently have stations (It is pretty much where you’d expect): airports, auto dealers, healthcare/medicals, hotels, municipal locations, residential and condos, parks and recreation areas, parking lots, religious institutions, restaurants, retailers, schools and universities, stadiums, supermarkets, transportation hubs, and workplace locations.
Predictions:
EV charging industry is projected to be a $112 billion industry by 2027. The growing demand and sentiment for electric vehicles is a major factor responsible for aggressive growth. Additionally expansion of this industry will increase rapidly as more world governments move towards becoming carbon-neutral status the next few decades.
- In 2018 US EV sales were up 81% from 2017
- In 2018 global EV sales totaled 2.1 million, up 64% from 2017
- There are currently more than 1.2 million electric vehicles in the U.S.
- The global EV market is expected to grow at a 25.6% CAGR from 2019-2026 and is forecasted to reach over $567B by 2026
- By 2025 EV sales are projected to account for 30% of all global vehicle sales
- By 2030, the US is estimated to need 13 million charging stations
Recent Developments for Blink:
- Agreement with Cushman & Wakefield for Deployment of EV Charging Stations
- Agreement with InterEnergy for the purchase of $1.2 million of Blink EV charging equipment to be deployed in the Dominican Republic
- Co-recipient of a $900,000 grant from the BIRD energy program for the development of a DC fast-charging solution
- Reached more than 23,000 deployments of EV charging stations at multiple living complexes and offices
- Migrated the Blink Network to Microsoft Azure to optimize performance, operability and driver experience and prepare for future expansion
- Expansion into Greece with Eunice Energy joint venture, deploying 40+ ports
- Blink enhanced its software to work seamlessly with Google Maps
A more recent agreement with SG Blocks (NASDAQ: SGBX) aims to deploy a rapid and cost-effective innovative EV charging containers designed to provide off-grid charging solutions through a combined solar and battery components in multiple capacities.
Competitors:
Chargepoint (their main competitor, they are not publically traded) – focused on manufacturing and selling hardware (SemaConnect is another competitor we could lump here)
EVgo, Electrify America – DCFC (Direct-current fast charger) charging solutions that are mainly beneficial for long road trips
Blink Charging claims to stand out from their competitors claiming: “We are the only company in the U.S. that can provide a full package of EV charging solutions under one roof, from start to finish!”
Prices & Market Cap:
52 Week Range $1.25—$14.58
Market Cap $310M
The Takeaway & Final Thoughts:
Interest and sentiment towards Electric Vehicles has been booming and the EV charging industry is poised to grow along side them. Like many of the companies that produce electric cars, EV charging is not the most profitable right now, however, having the infrastructure in place sets Blink and Chargepoint in excellent positions to capitalize in this upcoming market. Additionally there is the possibility of future government subsidies.
Thank you to all that have read this. This is not all inclusive so please please do your own research to supplement, especially since I did not talk in depth about the company financials, and since there are many competitors in this emerging market. Additionally thank you to everyone that provided constructive comments to the AMC vs Cinemark post. I hope everyone has a good day.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.