Car Charging Group Finalizes EV Infrastructure Acquisition

Car Charging Group Inc. has completed its purchase of the Blink Network and all Blink-related assets from ECOtality. Through the transaction, CarCharging has acquired more than 12,450 installed Level II electric vehicle (EV) charging stations, 110 installed DC fast-charging stations, more than 2,800 stations in inventory and the Blink Network operating system.

CarCharging has also assumed the assets of The EV Project, for which ECOtality previously served as project manager. The project was funded by the U.S. Department of Energy through a federal stimulus grant of $114.8 million.

The company now owns and operates more than 13,430 charging points in 35 states and three countries.

‘We are delighted to have completed the Blink transaction and to acquire assets that originally cost approximately $230 million for only $3.335 million,’ says CarCharging CEO Michael D. Farkas. ‘By adding Blink and all of its assets to our network of EV charging stations, we can continue our efforts to further accelerate the adoption of EVs nationwide.’

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