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Blink (BLNK), AAA Partner to Power America's EV Infrastructure
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Blink Charging Co. (BLNK - Free Report) , a leading manufacturer and provider of electric vehicle (EV) charging equipment, recently announced a strategic partnership with the American Automobile Association (AAA). Per the agreement, Blink will become a preferred supplier, extending its top-tier EV charging products and services to AAA service providers nationwide. This alliance builds upon their existing relationship and signifies a critical step in adapting to the rapid growth of EVs on American roads.
A Win-Win Partnership for EV Proliferation
Blink and AAA have a track record of successful collaborations, as Blink has already installed its charging stations at several AAA branch offices, repair facilities and auto repair shops. AAA was an early adopter of Blink’s first-generation Mobile Charger in 2019, providing roadside charging in select cities. This partnership takes a step further, enabling AAA's service providers to better cater to the growing demand for EVs.
The immediate impact of this partnership will be felt by 19 AAA clubs and their affiliates, encompassing over 60,000 locations across the nation. Through a streamlined ordering process and preferential pricing options, these entities are set to experience substantial cost savings. Furthermore, with additional EV charging solutions at their disposal, AAA clubs hope to attract more drivers and increase their membership base.
Michael Battaglia, chief revenue officer of Blink, acknowledged the profound implications of this partnership. As EVs become an integral part of the transportation landscape, demand for EV charging services will increase, including roadside assistance. Blink’s collaboration with AAA will help meet these needs, maintaining the high level of service AAA has been synonymous with for over a century.
Cliff Ruud, automotive managing director at AAA, Inc., concurred with Battaglia, stressing AAA’s commitment to evolving alongside the automotive industry. With the increasing prevalence of EVs, the partnership with Blink is a significant stride toward meeting the industry's changing needs.
An Advantage for EV Drivers
The ultimate beneficiaries of this collaboration will be EV drivers. This collaboration, if executed well by both AAA and Blink, can revolutionize the experience for EV drivers across the United States once the scale of operations reaches maturity.
AAA has already taken steps to support EV drivers, by deploying trucks equipped with mobile EV chargers across 14 cities. As part of its service, stranded EV drivers are given enough range to reach home or the nearest charging station at no additional cost.
With Blink's extensive product range, this partnership will equip roadside assistance providers with the necessary tools and skills to serve EVs more effectively. It aims to reassure EV drivers that their unique needs are anticipated and adequately catered to, thereby encouraging more drivers to transition to electric vehicles.
Paving the Way for a EV Future
The strategic alliance between Blink and AAA promises to be a transformative milestone in the rapidly evolving U.S. EV landscape. By combining Blink’s technological expertise with AAA's extensive reach, this partnership is poised to greatly enhance EV infrastructure, facilitate EV adoption and carve a path for a more sustainable and electric future.
The Zacks Consensus Estimate for HMC’s current fiscal year sales and EPS estimates implies year-over-year growth of 16.5% and 30.7%, respectively. The company’s fiscal 2024 EPS has been revised upward by 9 cents in the past 30 days. Honda’s fiscal 2025 EPS is pegged at $4.16 per share, suggesting year-over-year growth of 5.1%. The stock has gained around 34% year to date.
The Zacks Consensus Estimate for FUJHY’s fiscal 2024 EPS is pegged at $1.29 per share, implying an uptick of 33% year over year. The consensus mark for fiscal 2024 EPS has been revised upward by a penny in the past 30 days. The Zacks Consensus Estimate for fiscal 2025 EPS is pegged at $1.41 a share, implying 10% growth year over year. The stock has gained roughly 22% year to date.
The Zacks Consensus Estimate for LI’s current-year sales and EPS estimates implies year-over-year growth of 131% and 2,400%, respectively. The consensus mark for the 2023 bottom line has improved from a loss of 8 cents per share to a profit of 25 cents a share over the past 60 days. The company’s stock has gained nearly 74% year to date.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Blink (BLNK), AAA Partner to Power America's EV Infrastructure
Blink Charging Co. (BLNK - Free Report) , a leading manufacturer and provider of electric vehicle (EV) charging equipment, recently announced a strategic partnership with the American Automobile Association (AAA). Per the agreement, Blink will become a preferred supplier, extending its top-tier EV charging products and services to AAA service providers nationwide. This alliance builds upon their existing relationship and signifies a critical step in adapting to the rapid growth of EVs on American roads.
A Win-Win Partnership for EV Proliferation
Blink and AAA have a track record of successful collaborations, as Blink has already installed its charging stations at several AAA branch offices, repair facilities and auto repair shops. AAA was an early adopter of Blink’s first-generation Mobile Charger in 2019, providing roadside charging in select cities. This partnership takes a step further, enabling AAA's service providers to better cater to the growing demand for EVs.
The immediate impact of this partnership will be felt by 19 AAA clubs and their affiliates, encompassing over 60,000 locations across the nation. Through a streamlined ordering process and preferential pricing options, these entities are set to experience substantial cost savings. Furthermore, with additional EV charging solutions at their disposal, AAA clubs hope to attract more drivers and increase their membership base.
Michael Battaglia, chief revenue officer of Blink, acknowledged the profound implications of this partnership. As EVs become an integral part of the transportation landscape, demand for EV charging services will increase, including roadside assistance. Blink’s collaboration with AAA will help meet these needs, maintaining the high level of service AAA has been synonymous with for over a century.
Cliff Ruud, automotive managing director at AAA, Inc., concurred with Battaglia, stressing AAA’s commitment to evolving alongside the automotive industry. With the increasing prevalence of EVs, the partnership with Blink is a significant stride toward meeting the industry's changing needs.
An Advantage for EV Drivers
The ultimate beneficiaries of this collaboration will be EV drivers. This collaboration, if executed well by both AAA and Blink, can revolutionize the experience for EV drivers across the United States once the scale of operations reaches maturity.
AAA has already taken steps to support EV drivers, by deploying trucks equipped with mobile EV chargers across 14 cities. As part of its service, stranded EV drivers are given enough range to reach home or the nearest charging station at no additional cost.
With Blink's extensive product range, this partnership will equip roadside assistance providers with the necessary tools and skills to serve EVs more effectively. It aims to reassure EV drivers that their unique needs are anticipated and adequately catered to, thereby encouraging more drivers to transition to electric vehicles.
Paving the Way for a EV Future
The strategic alliance between Blink and AAA promises to be a transformative milestone in the rapidly evolving U.S. EV landscape. By combining Blink’s technological expertise with AAA's extensive reach, this partnership is poised to greatly enhance EV infrastructure, facilitate EV adoption and carve a path for a more sustainable and electric future.
Zacks Rank & Key Picks
Blink currently carries a Zacks Rank #3 (Hold).
A few top-ranked stocks in the auto space include Honda (HMC - Free Report) , Subaru Corp (FUJHY - Free Report) and Li Auto (LI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for HMC’s current fiscal year sales and EPS estimates implies year-over-year growth of 16.5% and 30.7%, respectively. The company’s fiscal 2024 EPS has been revised upward by 9 cents in the past 30 days. Honda’s fiscal 2025 EPS is pegged at $4.16 per share, suggesting year-over-year growth of 5.1%. The stock has gained around 34% year to date.
The Zacks Consensus Estimate for FUJHY’s fiscal 2024 EPS is pegged at $1.29 per share, implying an uptick of 33% year over year. The consensus mark for fiscal 2024 EPS has been revised upward by a penny in the past 30 days. The Zacks Consensus Estimate for fiscal 2025 EPS is pegged at $1.41 a share, implying 10% growth year over year. The stock has gained roughly 22% year to date.
The Zacks Consensus Estimate for LI’s current-year sales and EPS estimates implies year-over-year growth of 131% and 2,400%, respectively. The consensus mark for the 2023 bottom line has improved from a loss of 8 cents per share to a profit of 25 cents a share over the past 60 days. The company’s stock has gained nearly 74% year to date.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.