Blink Opens India Office to Expand International Footprint

Blink Charging Co. (BLNK) will open a new office in Noida, India, to boost its international footprint. The office will act as the main hub for the company’s international expansion plans in the Asia Pacific and the Middle East regions.

Don't Miss our Black Friday Offers:

Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter

Blink Charging provides electric vehicle (EV) charging equipment and services. The Indian office will accelerate the company’s growing U.S. capabilities to innovate new software and solutions for the evolving EV charging landscape. Shares closed at $38.88 on November 24.

See Analysts’ Top Stocks on TipRanks >>

Boost EV Charging Infrastructure

The Indian office is an effort to grow the company’s global engineering team, with a dedicated motive to build Blink’s new global network. The new network will be designed to support both AC and DC charges, with multi-currency and multi-language capabilities to facilitate a smooth customer experience.

Additionally, the Indian team will be involved in building additional Blink platforms and applications. These include a new fleet platform, a new mobility platform, energy management, charger technology, and other similar apps to be launched over time.

The Indian office provides a strategic location to Blink’s global partners and customers, providing the resources to meet its burgeoning need for state-of-the-art EV infrastructure technology.

The opening of the new office reflects Blink’s commitment to secure top engineering talent to provide customers with the most advanced technology today and into the future. With the new office, Blink aims to gain a share of the massive global demand for reliable and convenient EV infrastructure, and accelerate its international expansion plans.

Management Comments

Founder & CEO of the company, Michael D. Farkas, said, “Over the last six months Blink has been securing the most talented software developers in India in order to design and architect the most advanced network application in the Company’s history, and our new office in India supports this strategic initiative.”

Farkas added, “This important step strengthens Blink’s existing technical expertise and ensures the Company will continue to provide cutting-edge technology and software innovation with access to a talent pool of top-notch developers in the country.”

Target Price

With 3 Buys versus 3 Holds, the BLNK stock has a Moderate Buy consensus rating. The average Blink Charging price target of $41.67 implies 7.18% upside potential to current levels. Shares have gained 53.8% over the past year.

Smart Score

As per TipRanks’ Smart Score rating system, Blink Charging scores an 8 out of 10, which indicates that the stock has strong potential to outperform market expectations.