Blink Charging Co. (NASDAQ:BLNK) shares are trading lower on Wednesday.
The company's unit Envoy Technologies Inc., a prominent provider of electric vehicle car-sharing services, has struck a deal with Houston's Meristem Communities.
The agreement will see Envoy deploying EV car-sharing services at Indigo, a new 235-acre neighborhood in Fort Bend County, Texas.
At Indigo, residents can access Envoy's Rivian Automotive (NASDAQ:RIVN) R1T vehicle through the mobile app on Android and iOS, booking by minute, hour, or day.
"We're excited to be working with Envoy to offer Indigo residents access to a Rivian truck, which we hope will inspire some people to free themselves from the environmental and financial cost of owning a second car," said Meristem Communities Founding Partner Scott Snodgrass.
Envoy collaborates with multi-resident communities to offer integrated EV sharing and charging stations as an amenity.
Also Read: BlackBerry Launches AI-Powered CylanceMDR Pro Cybersecurity For Businesses: Details
Ground-level charging stations on-site allow residents to charge vehicles at no extra charge.
Indigo is currently in its initial development phase, emphasizing a community-focused approach to resilient living, work, and leisure. Once completed, the neighborhood will offer around 800 homes, 42 acres of dedicated agriculture, a 25-acre lake, and over 70,000 square feet of mixed-use commercial space. Indigo will feature an integrated village combining retail, small businesses, residential areas, and outdoor environments, anchored by a 12-acre town center inspired by traditional Main Streets designed for human-scale interaction.
The launch at Indigo represents Envoy's first network expansion into Texas. Envoy vehicles operate in residential, office, and hotel locations nationwide, spanning 23 states from California to New York and Florida to Washington.
Price Action: BLNK shares are trading lower by 2.97% to $3.59 at last check Wednesday.
Photo: courtesy of Blink.
- EU Nations Divided Over Tariffs On Chinese EVs; Commission Considers Compromise For BMW And Volkswagen Models: Report