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Blink Charging Shares Slide Despite Mitsubishi North America Deal

Sam Boughedda
Sam Boughedda trader
Updated 19 Jan 2023

Blink Charging (NASDAQ: BLNK) announced late Wednesday that it has entered into an exclusive agreement with Mitsubishi Motors North America.

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The agreement will see Blink make its chargers and turnkey install services available for all 323 Mitsubishi US dealerships.

Blink Charging shares closed Wednesday’s session down over 4%.

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

The electric vehicle charging firm will supply its MQ 200 and IQ 200 Level 2 chargers and will offer Blink DC Fast Chargers to all of Mitsubishi’s participating dealerships in North America.

In addition, the Mitsubishi dealerships will obtain access to the newly rebuilt, cloud-based Blink Network, while they will be able to create dynamic user protocols, accept payments, remotely monitor the chargers, and view charging session logs. 

“We are excited to see Blink’s EV charging stations deployed to Mitsubishi dealerships around the country, providing the vital infrastructure needed to charge Mitsubishi current and future line of EV models,” commented the President of Blink Charging, Brendan Jones. “Blink’s technologically advanced EV charging infrastructure will be a critical component of the automaker’s ecosystem and will play a significant role in accelerating EV mass adoption.” 

The agreement with Mitsubishi follows last week’s announcement by Blink that it has agreed on a deal with Citybest, a sustainable transport mobility App, to install 50 Blink MQ 200 chargers at hotel chains in Mexico, with a further 20 Blink EQ 200 chargers deployed in Chile. 


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.