Blink Charging’s wholly-owned subsidiary, Blink Mobility, an all-electric car-sharing service, has acquired Envoy Technologies, a software and mobility service company offering shared electric vehicles as an amenity for national real estate developers and owners.
Blink Mobility’s acquisition of Envoy, combined with its existing EV car-sharing service, and with the recently awarded $7.5 million to develop an electric car-sharing program in New Jersey, will create one of the largest all-electric car-sharing companies in the United States, Blink says.
Blink Charging’s board of directors has authorized its management to start planning for the spin-off of Blink Mobility. Blink Charging plans to distribute a majority of its shares of Blink Mobility as a pro rata dividend to its existing shareholders at a future date. The terms and timing for this transaction have not been determined.
“We are pleased to welcome Envoy into the Blink Mobility family and the opportunity it brings to take advantage of its experience in the EV car-sharing space and maintain and advance our mission to promote electrification of the nearly $13 billion projected car-sharing industry in the U.S.,” said Michael D. Farkas, the executive chairman of Blink Mobility and chief executive officer at Blink Charging. “There continues to be tremendous opportunity among various communities, including inner city areas, for the need of clean, reliable, and accessible transportation.”
Envoy has developed a car-sharing platform and mobile app that provides on-demand electric vehicles as an amenity to apartments, office buildings and hotels. Envoy equips real estate owners and operators with a way to provide a “Mobility as an Amenity service,” a platform that offers technology to reserve and access vehicles, driver insurance, maintenance, electric vehicle chargers, electric fleet, fleet maintenance, a mobile app, customer support and analytics.
All Blink Mobility deployments of EV mobility and car-sharing activities and services will be carried out in collaboration with Blink Charging.