On Monday, electric vehicle charging equipment manufacturer Blink Charging said that as the industry heads away from the standard of the Combined Charging System connector used by many automakers, it is preparing to launch a new fast charger which will use Tesla’s connector.

Both General Motors and Ford have announced that they are adopting Tesla’s formerly proprietary North American Charging Standard (NACS) port, which will be used by 60% of the US Electric Vehicle market with such partnerships.

Piper Sandler has noted that it expects revenue for Tesla from its network of charging stations will hit roughly $9.65 billion in 2032, with over half of that coming from other EV manufacturer’s products making use of the chargers.

In 2023 Blink teased its new direct current (DC) fast charger, which will feature both NACS and Combined Charging System connectors at the Consumer Electronics Show (CES). The charger is in the final stages of its design, according to the company.

Blink’s shares were up 1.2% to $6.03 in early trading before the bell.

Blink said, “Given recent announcements by Tesla, GM, and Ford, we are clearly witnessing the continued evolution of the EV charging industry as technologies advance and industry stakeholders come together and evaluate best practices.”