15 juin 22
Fil d'Actus

Blink Charging buying SemaConnect to boost EV charging capacity

Blink Charging acquires SemaConnect to boost EV charging capacity

US-based electric vehicle (EV) charging equipment company Blink Charging (Nasdaq: BLNK) has agreed to acquire EV charging infrastructure solutions company SemaConnect, Inc. for US$200 million.

The acquisition helps to solidify Blink’s market position with complete vertical integration of supply-chain, engineering, and in-house manufacturing capabilities of more than 10,000 EV chargers today and scaling to 50,000 per year.

Moreover, in-house manufacturing and US-based assembly will also bring Blink in compliance with the Biden Administration Buy American initiatives.

The cash and common stock transaction, which is still subject to certain customary adjustments for working capital, will add nearly 13,000 EV chargers to Blink’s existing footprint, as well as another 3,800 site host locations and more than 150,000 registered EV driver members.

As of mid-2022, Blink Charging has deployed over 30,000 charging ports across 18 countries.

 

 

Authored by: Daniel Bland