The electric vehicle space has boomed! It’s still expanding, and investing in space can lead you down two paths. Investing in the market driver Tesla, or the market driven automakers trying to catch up.
I would like to present another option: Electric Vehicle Charging.
Specifically, the industry leader, ChargePoint looks like a great long-term investment.
ChargePoint (CHPT)
- ChargePoint is the nation’s largest and most freely available electric vehicle charging network with over 20,000 charging locations (65% market share).
- ChargePoint has a unique business model compared to the “subscriber” and “time-used” pricing models. Many of their Charging stations are free with the owner (retailer, hotel, etc.) setting the price and absorbing the cost. The lighter asset load has made it more scalable than its competitors.
- Still not profitable. Despite increased revenue growth, CHPT is still not a consistently profitable company. This isn’t uncommon in the EV space.
Other Notable EV Charging Players:
- Blink Charging (BLNK)
- EVGO (EVGO)
- Tesla (TSLA)
- Volta (VLTA)
- Electrify America (Owned by Volkswagen)
