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Blink Charging Ltd., a wholly-owned subsidiary of Blink Charging Co., continues its expansion through its latest agreement with Migdal Insurance and Financial Holdings Ltd. (“Migdal”), one of Israel’s largest insurance companies. This is the latest partnership that will allow Blink to expand its footprint internationally, now reaching into six countries across three continents. The company is seeing significant interest in their EV charging equipment, and network as worldwide demand for electric vehicles (EVs) grows.
Migdal Insurance will deploy Blink EV charging stations at Migdal-owned buildings in Israel. Blink, a leading provider of EV charging infrastructure, including equipment and a charging network, will provide a turnkey solution under this agreement.
“This agreement is an exciting opportunity to increase our Blink EV charging station footprint, mainly in countries that have publicly committed to growing their EV infrastructure,” remarked Blink Charging CEO and Founder, Michael D. Farkas. “Migdal’s commitment to bringing EV charging and EV network connectivity to citizens makes them a beneficial and strategic partner. Furthermore, given Migdal’s worldwide presence, we believe this is the first step in a much larger opportunity to expand our presence throughout the rest of the world.”
This mutually beneficial agreement between Blink and Migdal is a significant step in the build-out of EV infrastructure within Israel and potentially other emerging EV markets. In addition to a list of locations specified in the agreement, over the next few months, Blink will work with Migdal to identify additional locations outside of Israel that are ideal for EV charging stations.
This announcement showcases the increased interest in EV charging following the country’s plan to eliminate gasoline or diesel-powered vehicles after 2030. According to The Jerusalem Post, the government has already started encouraging the adoption of electric vehicles through incentives for EV charging stations and a significant reduction of taxes on electric vehicles.
Migdal Insurance is among the largest insurance companies in Israel, with properties throughout the country, as well as an expansive portfolio of properties in America and Europe. It serves 2.3 million private and business customers, employs more than 5,200 people, and has business relations with 2,800 insurance agencies and agents.