BLNK Jan 2025 35.000 call

EV adoption is set for long-term growth: Blink Charging CEO

Despite fears of an electric vehicle (EV) adoption slowdown, Blink Charging (BLNK) defied expectations by reporting a 195% surge in gross profit during its first quarter results. To shed light on the company's expansion plans and the broader EV landscape, Blink Charging President & CEO Brendan Jones joins Catalysts. Jones highlights the company's continued observation of EV adoption globally, with Europe emerging as a significant revenue driver. In this region, EV sales continue to rise, accompanied by an expansion of EV infrastructure. Notably, Jones points out that utilization of charging stations is also on the upswing, reflecting the growing demand for EV-related services. While acknowledging slowdowns experienced by industry giants like Tesla (TSLA), Jones draws attention to the contrasting strategies of other automakers. Hyundai (HYMTF), for instance, has doubled down on its commitment to EVs, further investing in the sector. "You saw some stuff that said 'hey, we might be slowing,' but then you also saw a lot of encouraging activity that said the space is going to continue to grow over the long-term," Jones tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith