EV Charging Stocks Blink Charging, ChargePoint, Plug Power Are Falling Friday - What's Going On

Electric vehicle charging companies, including Blink Charging Co BLNK, ChargePoint Holdings, Inc CHPT, and Plug Power, Inc PLUG, are trading lower Friday amid reports of General Motors Co GM leveraging Tesla, Inc's TSLA charging infrastructure.

GM's move will likely boost Tesla stock, implying legacy automakers accepting Tesla's market-leading status in the EV market.

General Motors announced that it will integrate the North American Charging Standard (NACS) connector design into its EVs beginning in 2025, which will expand access to charging for GM EV drivers at 12,000 Tesla Superchargers stations.

This agreement builds on the more than 134,000 chargers currently available to GM drivers through the company's Ultium Charge 360 initiative and mobile apps. 

Also Read: Walmart Embraces EV Future: Charging Stations to Roll Out at Thousands of US Stores

Tesla is also in discussions with the regional government leaders of Valencia in Spain for a potential automotive investment. 

CEO Elon Musk is also exploring potential electric vehicle investments with Mongolian Prime Minister Luvsannamsrain Oyun-Erdene in the country.

Price Actions: BLNK shares traded lower by 9.91% at $6.01 on the last check Friday. CHPT shares traded lower by 12.3% at $8.43. PLUG shares traded lower by 4.25% at $9.11.

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