Why Blink Charging (BLNK) Stock Is Popping Off

Blink Charging Co BLNK shares are trading higher by 7.55% to $6.41 Monday afternoon. The company on Monday revealed its intention to introduce an North American Charging Standard (NACS) connector option for its products.

Blink announced that its forthcoming direct current (DC) fast charger, which supports both NACS and CCS connectors, was previewed at the Consumer Electronics Show 2023 and is currently in the final stages of the design process.

Tesla Inc's NACS has gained recognition for its compact and lightweight design, which enhances ease of use for motorists.

BLNK shares fell on Friday after General Motors last week said it would partner with Tesla to use its charging network.

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What Happened Last Week?

GM and Tesla last week announced a collaboration to integrate the NACS connector design into GM's EVs starting in 2025. The partnership will provide GM EV drivers with access to 12,000 Tesla Superchargers across North America.

GM says this collaboration aligns with the company's focus on expanding charging access through its Ultium Charge 360 initiative and mobile apps.

The Tesla Supercharger Network will be available to GM EV drivers from 2024 onwards, initially requiring an adapter and subsequently integrating NACS inlets into GM EVs from 2025. GM will also integrate the Tesla Supercharger Network into its vehicle and mobile apps.

GM and Tesla say this collaboration aims to accelerate mass EV adoption and establish a unified North American charging standard.

According to data from Benzinga Pro, BLNK has a 52-week high of $26.95 and a 52-week low of $5.86.