Along with electric vehicles, there’s also growing demand for EV charging stations.
In fact, the charging market could be worth $111.9 billion over the next six years from $17.59 billion in 2021. All as global leaders push for their development. In China, for example, the government approved the development of fast-charging station. In the U.S., the Biden Administration says it’s committed to building a network of 500,000 stations by 2030.
One of the stocks that could benefit from that is Blink Charging (BLNK), which just beat on revenue with $11.5 million. That was higher than expectations for $8.6 million.
“Our second quarter results are indicative of the fundamental strengths of our business due to organic growth as well as growth from acquisitions,” stated Michael D. Farkas, Chairman and CEO. “We have launched several new products throughout the first six months of 2022 that address charging demands across the entire EV ecosystem including home, fleet, multifamily and retail locations, which will be excellent additions to our portfolio of available products. In essence, whether we own and operate or sell hardware, Blink strives to deliver best-in-class products and services.”