Blink Charging waiting for 'dust to settle' on Tesla fast-charging deals: CEO
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Blink Charging waiting for 'dust to settle' on Tesla fast-charging deals: CEO
Blink Charging waiting for 'dust to settle' on Tesla fast-charging deals: CEO
Blink Charging is sizing up the growing demand for EV fast-charging stations as Tesla finalizes deals with Ford and GM. Blink Charging President and CEO Brendan Jones joins Yahoo Finance Live to discuss business with Tesla, adapting superchargers for all EVs, and the impact of the Biden administration's infrastructure investments.
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Blink Charging waiting for 'dust to settle' on Tesla fast-charging deals: CEO
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Blink Charging is sizing up the growing demand for EV fast-charging stations as Tesla finalizes deals with Ford and GM. Blink Charging President and CEO Brendan Jones joins Yahoo Finance Live to discuss business with Tesla, adapting superchargers for all EVs, and the impact of the Biden administration's infrastructure investments.
Video Transcript
AKIKO FUJITA: With US EV sales soaring in Q1. It was up roughly 80% since last year, according to research from counterpoint USA. Despite the rising popularity, though, range anxiety remains a huge hurdle for many potential buyers. Roughly half reject the idea of purchasing an EV because of the lack of charging stations that are available right now. At least, that's according to JD Power.
Now finding a charging station could get a little easier. Dianne, pointing to this partnerships with Ford and GM and Tesla now giving their own EV owners access to Tesla superchargers. For more on this, let's bring in Brendan Jones, Blink Charging President and CEO. Brendan, we saw your stock get hit in a big way on the back of that partnership being announced. What are shareholders missing right now? What does this mean for Blink?
BRENDAN JONES: Well, I think they're missing, for Blink and for other companies, that, actually, Tesla is our number one customer today. So if we look at who plugs into our chargers on a daily basis, it's overwhelmingly Tesla drivers. Now that, of course, corresponds to the market share.
But the reality is this. Is that the majority of charging takes place on what's called level 2 charging. And the announcements that came out from GM and Ford, respectively, with Tesla, is all about DC fast charging. So DC fast charging makes up about 10% of the space.
So Blink is about 95% a level 2 company, and then 5% a DC fast charging. Company so we're going to wait for the dust to settle on this. We are excited about the announcement by Tesla. It means that, as you said, there's range anxiety, but we believe installing reliable EV infrastructure creates range confidence, and that's our job.
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