Mitsubishi i-MiEV Recharges at a Blink Station

Mitsubishi i-MiEV Recharges at a Blink Station

CarCharging in its recent 10-Q report stated that its total number of installed charging points reached a level of 5,500:

"As a result of our acquisitions of four competitors, we currently have approximately 5,500 level 2 charging units and 117 DC Fast Charging EV Devices installed."

"As a result of our acquisitions and partnerships with EV manufacturers, our network has broadened its offerings and includes units from numerous manufacturers."

This is an improvement versus the 5,200 and 105 in previous report, but still on the Blink Network map we see over 4,000 charging points in the U.S.

"Inventory increased by over 3,847% with 4,026 EV charging stations held at the end of the first quarter of 2014 versus 102 at the end of the first quarter of 2013."

Together with public charging points, CarCharging is trying to sell residential charging stations:

"During the quarter ended March 31, 2014 we sold 47 residential charging stations whereas we sold no stations during the quarter ended March 31, 2013."

Interesting is the part on 48 Nissan DC fast chargers, which with help of Gridscape Solutions should be included in the Blink Network.  As it turns out, by end of March, just 5 of them were installed and all should be installed by end of this month.

"The Company has installed five units as of March 31, 2014 and is required to install the remainder of the network by June 30, 2014, as extended."

When we look at the financial situation, we see how much CarCharging earns on the charging infrastructure... well... after $24 million in net losses in 2013, now we see a net loss of "just" $3,858,917.

"Generated revenues of $255,659 from charging fees of installed EV charging stations for the first quarter of 2014 as compared to $10,576 from the first quarter of 2013, which represents an increase of 2,317%. "

CarCharging Financial Results - For the Three Months Ended March 31, 2014

CarCharging Financial Results - For the Three Months Ended March 31, 2014