Blink Charging Co. (NASDAQ:BLNK) shares are trading higher on Monday after the company disclosed that it has been chosen by The West Yorkshire Combined Authority (WYCA) to partner on a £1.41 million ($1.9 million) initiative aimed at rolling out the first phase of a regional electric vehicle (EV) charging network.
The 15-year agreements is signed with all five West Yorkshire district councils and partially funded through the UK government's Local Electric Vehicle Infrastructure Pilot Fund (LEVI).
The LEVI program supports local authorities in expanding public EV charging access, particularly for residents without off-street parking, to promote broader EV adoption and help achieve the Combined Authority's 2038 net-zero carbon target.
Starting later this year, the initiative will deploy 716 Blink charging stations across West Yorkshire.
This includes a mix of Standard (3.7kW–8kW), Fast (8kW–49kW), and Rapid (50kW–149kW) chargers to meet diverse charging needs across the region.
Parliamentary Under Secretary of State, Keir Mather said, “Thanks to our LEVI funding residents across West Yorkshire will soon be able to plug into hundreds of new chargepoints across the region, making it more convenient to charge on the go, no matter where you live.”
”On top of that we’re cutting costs for drivers too, with discounts of up to £3,750 off some new EVs to help working people and families make the switch to electric. It’s all about making EVs cheaper and a reality for more families, across the UK.”
Last week, the company won a contract with the City of Richmond for a state-of-the-art network of EV charging stations.
BLNK Price Action: Blink Charging shares were up 10.25% at $2.20 at the time of publication on Monday. The stock is approaching its 52-week high of $2.31, according to Benzinga Pro data.
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