2023 is nearly at its end, and the Blink team is working hard to bring EV charging everywhere. It’s been a great year with company record-breaking sales and big increases in our membership. In our Third Quarter 2023 Earnings Report, we proudly announced that Blink has successfully contracted, sold, or deployed nearly 85,000 charging stations since its inception, following two consecutive quarters of regular growth. There are now nearly 460,000 Blink members, and we are already planning celebrations for our next sales and membership milestones. As we approach the end of 2023, we want to acknowledge significant industry news and the remarkable accomplishments of Blink Charging throughout this year.
New Leadership Changes and Team Promotions
While we may be biased, we are proud to say that Blink has the best leadership team found anywhere. [caption id="attachment_6975" align="alignright" width="160"] Blink President and CEO, Brendan Jones[/caption] This summer marked significant advancements within our leadership ranks: Brendan Jones, President of Blink Charging, was promoted to Chief Executive Officer. Following this Miko de Haan, the Managing Director overseeing European operations, ascended to the role of President for Blink Europe and Emerging Markets. Additionally, Jenifer Yokley, Sr. Vice President of Global Marketing, joined our esteemed executive team. Furthermore, we celebrated the promotions of Mike Battaglia to Chief Operations Officer, Jim Nemec to Chief Revenue Officer, and Siddhartha Kodgi to Vice President of Operations. This year, our subsidiary Blink Mobility made a notable announcement appointing a new President, Aric Ohana to lead Blink Mobility. Specifically, BlueLA powered by Blink Mobility prioritizes affordable EV car sharing in cities, while Envoy concentrates on offering sharing services as an amenity in apartments, hotels, and workplaces. Envoy stands as Blink's latest acquisition, bringing valuable expertise in community-based EV car sharing, thereby enabling Blink mobility to expand EV access to a larger pool of drivers.
Blink’s Rebrands of Acquisitions
During 2021-2022, Blink Charging expanded our international footprint through several key acquisitions. In the spring, we are celebrating integrating and rebranding EB Charging into Blink Charging UK and SemaConnect India into Blink Charging India. This summer, we completed our network integration of all North American SemaConnect EV drivers and hardware into Blink Charging US. Finally, in the fall, we announced the rebrand of Blue Corner into Blink Charging Belgium. Thanks to our new network integrations, we are proud to offer a global Blink Charging experience, so EV drivers can use the same global Blink mobile app at thousands of locations in North America, Latin America, Europe, and Asia.
Product Announcements and Launches
[caption id="attachment_11778" align="alignright" width="300"] The Blink Mobile EV Charger[/caption] Not only did Blink add new charging stations to our network in 2023, but we also launched several new products! The year began with Blink’s exhibit at the Consumer Electronics Show (CES) where we debuted the EQ 200 for European and Latin American (LATAM) markets, Series 3 for Asia-Pacific (APAC) and LATAM markets, PQ 150 for European markets, and the Series 9 30kW DC Fast Charger for global markets. In March 2023, we relaunched our Mobile EV Charger, which provides portable charging for emergency roadside assistance companies and fleets. Then in June, we announced the final design of our newest 240kW DC Fast Charger, which was teased at CES 2023. The North American electric vehicle industry made a monumental shift in the summer of 2023, and Blink is proud to respond with our state-of-the-art charging stations. Last year, Tesla opened its newly renamed North American Charging Standard (NACS) connector to other automakers. As noted by in a report by the National Renewable Energy Laboratory (NREL), “As of June 30, 2023, approximately 66% of registered all-electric vehicles in the United States were Teslas and therefore compatible with the NACS connector.” In a wave of announcements, legacy automakers including Ford, General Motors, BMW, and Nissan announced their intention to use the NACS connector in future EVs. To meet the needs of EV drivers everywhere, Blink Charging will offer the NACS charging standard on our full line of charging stations, including Level 2 and DCFC.
Blink Family of Products
Designed with the future in mind, Blink offers a full range of solutions for Level 2 and DC fast charging.
Blink Teams Up with Top Industry Leaders
Throughout the First through Third Quarters of 2023, Blink contracted, sold, or deployed over 18,000 charging stations, elevating our global count to nearly 84,000. We eagerly anticpate unveiling our year-end results. However, these additions are only part of the picture. This year, Blink collaborated with leading brands to provide access to more EV chargers to more people.
We signed agreements to bring Level 2 charging to Arcos Dorados’s McDonalds franchises in Puerto Rico and to bring DC fast charging to Royal Farms convenience stores in the Mid-Atlantic.
In February, Blink teamed up with Hertz to provide free EV charging to Hertz customers in Phoenix, Arizona during the big game weekend.
To support Blink’s EV fleet customers, we signed an agreement with Amerit Fleet Solutions to provide preventative maintenance to our growing number of fleet customers.
We expanded our sales to automotive dealerships in the United States and were pleased to become Mitsubishi Motors North America’s exclusive provider of Level 2 and DC fast charging stations to participating dealerships in North America.
We also expanded our relationship with AAA to become a preferred supplier to affiliated AAA service providers. With our Mobile EV Charger, we are excited to serve more AAA members with our emergency roadside assistance product.
[embed]https://youtu.be/fUibt7JRyms?si=WMPcwdmhszteyc4d[/embed]
Major Legislation that Changed the Industry
Finally, 2023 saw major changes to the consumer and business incentives for electric vehicles and EV charging. This year, the $7,500 Section 30D Clean Vehicle Credit returned with new restrictions: while there was no longer a per-manufacturer sales cap, 2023 introduced new requirements for maximum MSRP, battery components, and consumer’s adjusted gross income (AGI). There were also two new EV tax credits that began in 2023: the Used Clean Vehicle Credit, worth 30% of the purchase price up to $4,000, and the Commercial Clean Vehicle Credit, which is worth 30% of the total cost of the vehicle, up to $7,500 for light-duty vehicles under 14,000 pounds and $40,000 for all other EVs. Like the tax credit for new EVs, the used EV tax credit included an AGI cap and must be sold by a licensed dealer. Beginning in 2024, the consumer versions of these tax credits will change again, and EV drivers can access the credit at the point of sale, but vehicles will only qualify for the $7,500 credit if they are manufactured in North America and battery components are made or assembled outside of a Foreign Entity of Concern (FEOC). The Section 30C Alternative Fuel Vehicle Refueling Property Infrastructure tax credit, also known as the EV charging station tax credit, returned in 2023 with some new restrictions. Businesses now need to be situated in eligible census tracts to claim a base credit of 6% of total project cost, per station, up up to $100,000. Moreover, they must fulfill wage and apprenticeship requirements to qualify for a maximum 30% tax credit. 2023 marked a record year for both Blink Charging and the electric vehicle industry as a whole. We’re proud to support the thousands of Blink hosts and EV drivers that joined the Blink Network in 2023, and we look forward to another great year in 2024.