Blink, ChargePoint to launch EV chargers with Tesla's charging connector (updated)

ACN 650 026 314

12/06/2023 16:04

(Recasts paragraph 1 after announcements from ChargePoint and
Tritium, updates shares in paragraph 5)
       June 12 (Reuters) - Electric vehicle charging equipment
makers Blink Charging  BLNK.O , ChargePoint  CHPT.N  and Tritium
 DCFC.O  said on Monday they will offer chargers with Tesla's
connector, as the standard Combined Charging System (CCS)
connector falls out of favor with automakers.
    General Motors  GM.N , one of the largest U.S. automakers,
said last week it would join Ford  F.N  in adopting Tesla's
 TSLA.O  previously proprietary North American Charging Standard
(NACS) port, which is set to dominate 60% of the U.S. EV market
with the partnerships.
    Tesla's NACS is known to be more compact and lighter, making
it easier for motorists to use.
    ChargePoint said it will offer an NACS connector option for
its products, and upgrades for chargers that are already in
service.
    Meanwhile, Australia-based Tritium said it will add the NACS
connector to its chargers in the United States and other markets
that decide to adopt it.
    Blink's shares rose 2.2%, and U.S.-listed shares of Tritium
climbed 2.3%.
    Blink's new direct current (DC) fast charger, offering both
NACS and CCS, was teased at the Consumer Electronics Show (CES)
2023 and is in the final stages of design, the company said.
    "Given recent announcements by Tesla, GM, and Ford, we are
clearly witnessing the continued evolution of the EV charging
industry as technologies advance and industry stakeholders come
together and evaluate best practices," Blink said.
    Brokerage Piper Sandler expects Tesla's revenue from its
charging network to reach about $9.65 billion in 2032, with more
than half the sales coming from other EV makers making use of
the network.

 (Reporting by Akash Sriram in Bengaluru; Editing by Shinjini
Ganguli)
 ((Akash.Sriram@thomsonreuters.com; @HoodieOnVeshti on Twitter;
+91-74116-87774;))