Blink Charging Co. (NASDAQ:BLNK) shares are trading higher on Friday.
The company has announced that its subsidiary, Envoy Technologies, will introduce the award-winning Lucid Air EVs from Lucid Group (NASDAQ:LCID) into its car-sharing programs.
This initiative will begin with resident car-share installations at three luxury properties in California.
"Envoy can offer properties a brand-new Lucid Air Grand Touring for as low as $699 per month, plus additional revenue share for qualifying properties," said Envoy co-founder Aric Ohana.
The launch is taking place at The Holland Group's Orlo in Santa Clara, the Monticello property in Santa Clara, and the Beaudry luxury apartments in Downtown Los Angeles.
Also Read: Lucid Not Ready To Take On Tesla Cybertruck: CEO Says 'Tough To Make An Electric Pickup Truck Work Today'
Envoy collaborates with multi-residential communities to offer turnkey EV sharing and charging stations as a valuable amenity.
"We look forward to working with similarly resident-friendly properties, where our full turnkey private car share service can provide cars from our fleet of beautiful new Lucid Airs for 12-month terms," added Ohana.
The installations at Orlo and Monticello mark the introduction of Lucid EVs into Envoy's existing network in the Silicon Valley area, while Beaudry represents this milestone for Downtown LA.
According to Benzinga Pro, BLNK stock has lost over 40% in the past year. Investors can gain exposure to the stock via WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT).
Meanwhile, Blink Charging recently disclosed that it had exceeded 100,000 electric vehicle (EV) chargers sold, deployed, or contracted worldwide.
"This landmark is truly a collaborative effort shared among every member of the Blink team, each of our customers, and the demand from the EV community," said Mike Battaglia, Chief Operating Officer and CEO-Elect at Blink Charging.
Price Action: BLNK shares are trading higher by 6.18% to $1.89 at last check Friday.
Photo: courtesy of Blink
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