Reported 21 days ago
Blink Charging announced a plan to lay off approximately 14% of its global workforce as part of a cost-reduction strategy due to weakened demand for electric vehicles. The company aims to save about $9 million annually through these cuts, expected to be completed by Q1 2025. This move aligns with recent trends in the market where higher borrowing costs and consumer preferences for hybrids have impacted EV sales.
Source: YAHOO