Blink Charging Co. (NASDAQ:BLNK) shares are trading lower on Wednesday.

The company revealed Wednesday a noteworthy development from one of its subsidiaries, Envoy Technologies Inc.

The electric vehicle car-sharing firm unveiled an EV-sharing program at 210 South 12th, a residential tower in Philadelphia’s Center City.

The newly launched service highlights Envoy’s ongoing strategy to enhance urban mobility and redefine residential amenities.

Envoy’s latest deployment delivers electric vehicle access to residents of the building, a 31-story luxury high-rise designed by architecture firm RSHP.

The tower now boasts the red Cadillac LYRIQ models in Envoy’s nationwide fleet, marking the first time these vehicles appear in Philadelphia under Envoy’s banner.

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The launch adds to the building’s high-end offerings, positioning it more competitively in the city’s housing market.

The site includes a fully automated parking structure developed by Lödige Industries — touted as the largest of its kind in the country and the first in Philadelphia.

Equipped with AI to analyze user behavior, the system supports 100% EV compatibility and aligns with Envoy’s broader mission of promoting smart, green transportation solutions.

Envoy CEO and co-founder Aric Ohana emphasized the partnership showcases how the company’s offerings can boost property appeal and address downtown congestion challenges.

Through Envoy’s mobile application, residents can seamlessly book and access electric vehicles, integrating transportation into their digital lifestyles. The expansion is seen as a stepping stone toward broader adoption across luxury residential properties in other major cities.

BLNK Price Action: Blink Charging shares are trading lower by 13.23% to 66 cents at publication Wednesday.

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Photo: Courtesy Blink Charging