Why Are Blink Charging And ChargePoint Trading Higher Today?

Blink Charging Co BLNK and ChargePoint Holdings Inc CHPT are trading higher Wednesday afternoon after General Motors Co GM announced it signed agreements with seven major charging providers.

What Happened: General Motors introduced Ultium Charge 360, which will integrate charging networks, GM vehicle mobile apps, and other products and services to simplify customer charging experience in a press release.

Related Link: Why ChargePoint, Blink Are This Cowen Analyst's Top Picks In EV Charging Sector

“GM agrees with the customer need for a robust charging experience that makes the transition to an EV seamless and helps drive mass adoption. As we launch 30 EVs globally by the end of 2025, Ultium Charge 360 simplifies and improves the at-home charging experience and the public charging experience," said the company's chief EV officer Travis Hester.

Price Action: Blink Charging was up 6.8% at $39.55. ChargePoint was up 4.7% at $26.33.

Photo courtesy of General Motors.