Blink Charging has announced a joint venture with Envoy Technologies, a provider of shared on-demand, community-based electric vehicles (EVs).
The multi-year agreement is designed to bring electric vehicles and EV charging to urban residents across the US through the deployment of Blink charging stations at Envoy property locations.
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Envoy partners with some of the largest commercial real estate companies in the country to provide electric car-sharing as a property amenity for apartments, hotels and workplaces.
The turnkey solution includes EV charging infrastructure and Blink will be among the preferred EV charging station providers for the Envoy car-sharing programme, as well as additional charging stations at client properties, available to the public, for use by all EV drivers. Envoy’s community-based electric vehicle mobility platform grew 350% in the past two years.
“We are optimistic about this agreement with Envoy, which mirrors Blink’s mission of making electric vehicles and EV charging stations accessible to all,” said Blink founder and CEO, Michael Farkas. “Envoy’s business model provides Blink with a potential deployment of 7,000 fast, Level 2 Blink chargers in the next five years, of which 2,000 are expected in the next 12 months and the rest 5,000 in the following four years.
“While the chargers will be deployed through a variety of business models Blink offers its clients, including models where Blink contributes the hardware and while Envoy will enjoy preferred volume pricing for units deployed under the Agreement, the total MSRP value of the Blink chargers expected to be deployed in the next five years, is approximately US$24m.
“We believe Envoy’s car sharing model should help with the acceleration of EV adoption in 2020.”
The first deployments of 46 Blink IQ 200 charging stations were completed early in 2020 and are paving the way for accelerated deployments throughout the year. The IQ 200 charging stations are currently the fastest Level 2 chargers available, delivering up to 65 miles of charge in an hour.
No assurances can be given as to the number of chargers that will be deployed during the next 12 months or succeeding years, or the price of chargers sold to users or the resulting sales revenue to the company, pursuant to the Envoy agreement.
