Electrifying Partnership - Blink Charging Becomes The EV Charging Supplier For Tennessee Valley Authority
Portfolio Pulse from Shivani Kumaresan
Blink Charging Co (NASDAQ:BLNK) has signed a two-year contract with the Tennessee Valley Authority (TVA) to provide EV charging solutions. The agreement includes Level 2 charging equipment and DC Fast Chargers for public and commercial fleet applications. This follows Blink's strong Q2 2023 earnings, with revenues increasing to nearly $33 million. The company has also raised its 2023 revenue target to $110 million-$120 million.
August 24, 2023 | 4:39 pm
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Blink Charging's new contract with TVA could boost its revenues and strengthen its position in the EV charging market. However, its shares are currently trading lower.
The partnership with TVA, a major power supplier, could significantly increase Blink Charging's customer base and revenues. This, along with the company's strong Q2 2023 earnings and increased revenue target, could positively impact its stock price in the short term. However, the current lower trading of its shares suggests some market uncertainty.
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