(Reuters) – Electric vehicle charging equipment maker Blink Charging said on Monday it would launch a new fast charger with Tesla’s connector, as the industry moves away from the standard connector of the combined charging system used by many car manufacturers.
Last week, General Motors (GM) announced that it would join Ford in adopting Tesla’s North American Charging Standard (NACS) port, which is expected to dominate 60% of the US electric vehicle market with the partnerships.
Brokerage Piper Sandler expects Tesla’s revenue from its charging network to reach about $9.65 billion in 2032, with more than half of sales coming from other electric vehicle makers using the network.
Blink’s new direct current (DC) fast charger, offering both NACS and Combined Charging System connectors, was showcased at the 2023 Consumer Electronics Show (CES) and is in final design stages, the company said.
Its shares rose 1.2% to $6.03 in trading before the bell.
“Given recent announcements from Tesla, GM and Ford, we are clearly seeing the continued evolution of the electric vehicle charging industry as technologies advance and industry stakeholders come together and evaluate best practices,” Blink said.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)