Blink(US:BLNK) Investor Placeยท2024-06-14 10:09Product Developments - Blink Charging is integrating North American charge standard (NACS) connections to all its charging devices, enhancing user-friendliness and compatibility with more EV vehicles [1] - Blink Charging's product sales rose 68% to $27.5 million in 2023, driven by an increase in customer numbers purchasing commercial chargers [7] - EVgo recorded record revenue of $55.2 million for Q1 2024, up 118% from the previous year, with network throughput increasing by 194% to a record 53 GWh [9] Market Trends - By the end of 2024, electric vehicle sales are expected to reach over 17 million units, accounting for more than 20% of all new automobiles sold globally, with a nearly 25% increase in EV sales compared to Q1 2023 [5] - The industry value is estimated at $623.3 billion, projected to grow to $906.7 billion by 2028, indicating a strong market for overlooked EV stocks [12] - By 2024, EV sales are expected to account for more than 11% of new vehicle sales in the U.S., with China being the largest market, accounting for around 60% of global EV sales [20] Strategic Partnerships - Keystone Purchasing Network has appointed Blink Charging as its exclusive EV charging supplier [8] - Blink Charging has been selected by BYD's official dealership in Mexico, Grupo Fame, to provide EV charging solutions [14] - EVgo is expanding its partnership with Toyota, offering a year of free fast charging for drivers who buy or lease a new 2024 bZ4X [10] Future Outlook - Overlooked EV stocks are seen as a strong investment opportunity in 2024, with potential upsides of 50% to over 100% due to anticipated domestic policy actions and a decrease in benchmark interest rates [3][12] - EVgo's stock has a phenomenal upside potential of 106%, making it one of the top overlooked EV stocks [23] - Panasonic is investing $4 billion in a new EV battery facility in De Soto, Kansas, which will create 4,000 jobs and supply high-capacity lithium-ion batteries to Tesla [25]