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US company buys EV charging network in Luxembourg
electric vehicles

US company buys EV charging network in Luxembourg

14.05.2021
Blue Corner's charging stations in BeNeLux and France sold for €20 million
Ben Rich charges his Tesla vehicle at a super charging station in the US state of New Jersey on 6 May
Ben Rich charges his Tesla vehicle at a super charging station in the US state of New Jersey on 6 May
Photo credit: AFP

Blink Charging Co. has acquired a network of electric car chargers in Luxembourg and surrounding countries for about $24 million (€20 million), a deal that expands the company’s presence in one of the world’s strongest markets for plug-in vehicles.

Blink bought Antwerp’s Blue Corner N.V., which has more than 7,000 charging ports installed across Belgium, Luxembourg, the Netherlands and France, according to a statement on Tuesday. Blue Corner’s management and staff will remain in place following the purchase, the two companies reported. The deal involved a combination of cash and stock.

Blink, based in Florida, already has charging stations in Greece and is looking to grow in Europe, where electric-vehicle adoption has outpaced the U.S.

“The Blue Corner acquisition will provide the critical mass required to make significant inroads in the European charging market,” said Blink Chief Executive Officer Michael Farkas in a press release.

©2021 Bloomberg L.P.