Shares rebound as Blink (BLNK) ChargePoint (CHPT) and Tritium (DCFC) embrace Tesla charging connectors

Shares of electric vehicle charging equipment makers Blink Charging (NASDAQ: BLNK), ChargePoint (NYSE: CHPT) and Tritium (NASDAQ: DCFC) are bouncing back Monday after the three revealed they will be including Tesla's (NASDAQ: TSLA) NACS charging connectors at their terminals.

The news follows announcements by major automakers, General Motors (NYSE: GM) and Ford (NYSE: F) will be integrating the connectors into their vehicles starting in 2025.

ChargePoint said it will offer an NACS connector alternative for its products, including upgrades for existing chargers.

Australia-based Tritium said it will incorporate the NACS connector into its chargers across the United States and other markets that choose to adopt this technology.

Blink’s shares rose more than 10.5% by early afternoon Monday after falling more than 11.8% on Friday.

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.

Shares of BLNK, CHPT and DCFC are up 10.61%, 4.26% and 4.68% respectively in afternoon trading on Monday. TSLA is up 1.67%.

By Michael Elkins | [email protected]

You May Also Be Interested In

• Cloudastructure grows sales team by 30% to meet enterprise demand
• NXP Semiconductors names Mike Lucarelli as new investor relations head
• RedCloud signs $120M India joint venture with Dheer Marketing