Here's a deal that's charging up the European EV infrastructure game. Blink Charging (BLNK) announced on Wednesday it's teaming up with Korian Belgium to roll out electric vehicle charging stations across the country. Think of it as building a highway rest stop network, but for elderly care facilities.
The plan? Deploy more than 200 Blink-owned chargers at 90 different Korian locations. That's enough to create what they're calling one of the largest EV charging networks in Belgium's elderly care sector. It's not just for the staff either—these stations will serve employees, residents, visitors, and even folks from the surrounding communities.
Now, here's the clever part about the business model. Blink is using its fully financed setup. That means Korian gets to expand its EV infrastructure without any upfront costs. Instead, Blink covers the investment and then generates recurring revenue from the charging sites. Blink also handles the whole lifecycle: installation, operation, maintenance, and customer support. It's a classic "you provide the real estate, we'll provide the power" arrangement.
Three sites are already up and running. The broader rollout will happen in phases, with the whole project expected to wrap up by 2026. And if you're wondering about the neighborhood, a similar deployment is apparently on the drawing board for Korian's locations in the Netherlands too.
What's the Stock Doing?
Let's talk about the stock for a second. From a technical standpoint, Blink Charging is showing some short-term weakness. It's currently trading about 5.3% below its 20-day simple moving average and 10.1% below its 100-day average. Over the past year, shares have taken a significant dip and are sitting closer to their 52-week lows than their highs.
The RSI is right at 50.00, which is the textbook definition of neutral. The MACD is at 0.00, suggesting there's not much momentum pushing the stock in either direction at the moment. Traders are watching key resistance at $1.00 and key support at 50 cents.
