What's Going On With Blink Charging Stock Today?

Blink Charging Co. BLNK saw a boost in premarket trading on Friday.

Yesterday, the company revealed that Envoy Technologies, a Blink entity, has launched its electric vehicle car-sharing service at The Modern Seattle, a luxury high-rise managed by Sentral.

This collaboration marks a significant milestone for Envoy as it expands its services in the Pacific Northwest.

Located at 255 Lenora St in downtown Seattle, The Modern Seattle is a 216-unit luxury property.

Aric Ohana, CEO and co-founder of Envoy, highlighted that the collaboration not only boosts resident satisfaction but could also increase rental income for the property.

Also Read: Tesla Receives 200,000 Orders For Refreshed Model Y In China: Report

The mobile app allows residents to easily reserve and access the vehicle, providing added convenience and luxury.

The launch strengthens Envoy’s presence in Seattle, with other locations in Shoreline and Bellingham, and opens the door for future collaborations with Sentral across the U.S.

According to Benzinga Pro, BLNK stock has lost over 65% in the past year.

Last month, the company secured an agreement to provide up to 50 electric vehicle charging ports throughout Alameda, California.

Under the agreement, Blink will identify strategic locations for the charging stations, with installations expected to begin this year.

The first phase will see the deployment of 13 Level 2 and DC Fast Charging ports across four locations. Phase 2 will add 34 additional ports, contingent on available funding and the priorities of both Blink and the city.

Price Action: BLNK shares are trading higher by 2.83% to $1.090 premarket at last check Friday.

Read Next:

• SpaceX CEO Elon Musk Says Starship For Next Test Flight Would Be Ready In ‘4 To 6 Weeks’

Photo via Shutterstock.