With electric vehicle sales exploding across the globe, EV charging stations will play a crucial role in the world’s transition to sustainable transportation.
The EV charging market was valued at over $11 billion in 2021 and is expected to grow to more than $60 billion annually by 2030.
The combination of surging electric vehicles sales, growing demand for zero emission vehicles, and growing corporate ESG initiatives, are all contributing to the rapid growth of the EV charging market. As global adoption of electric vehicles continues to increase, the EV charging market is expected to further grow in size and scale.
Lucky for investors, numerous EV charging stocks have gone public over the last few years. Below are five EV charging stocks to watch in 2023:
1. ChargePoint Holdings (NYSE: CHPT)
ChargePoint is one of the largest EV charging companies across North America and Europe, with more than 200,000 charge points in its network. The company has also deployed more than 70% of all Level 2 fast chargers in North America.
The company also has more than 4,000 fleet customers worldwide, which it says includes more than 80% of Fortune 50 companies. Most recently, the company announced the first Starbucks stores where new EV chargers would be available. Initial plans call for 60 DC fast chargers to be installed at up to 15 Starbucks locations.
Shares of ChargePoint trade on the NYSE under the ticker symbol CHPT.
2. Wallbox (NYSE: WBX)
Wallbox creates smart charging systems that combine technology with design to manage vehicles, grids, and chargers. The company offers a full portfolio of charging and energy management solutions in more than 100 countries.
Wallbox recently partnered with electric vehicle maker Fisker (NYSE: FSR) to become it’s global partner for home EV charging solutions. Fisker will offer its EV owners home installation services provided by Wallbox in Europe. Wallbox Pulsar Plus smart chargers will be available to Fisker Ocean reservation holders starting November 2022 in the U.S. and Canada.
Wallbox has sold more than 100,000 chargers and its installation team consists of more than 500 certified installers.
Shares of Wallbox trade on the NYSE under the ticker symbol WBX.
3. Blink Charging (NASDAQ: BLNK)
Blink Charging is a leading owner, operator, and provider of EV charging equipment and services. The company says it is the only end-to-end global EV charging provider through its unique owner-operator business model that provides customers and partners with industry-leading charging stations.
Blink has appointed former senior advisor and congressman Cedric Richmond to its Board of Directors. The company says the appointment is strategic as Richmond will help to advise on Blink’s growth and expansion strategy upon the Biden Administration’s call to deploy EV charging infrastructure across the country.
To date, Blink has deployed more than 50,000 charging ports across 25 countries, many of which are networked EV charging stations.
Shares of Blink Charging trade on the NASDAQ under the ticker symbol BLNK.
4. EVgo (NASDAQ: EVGO)
EVgo, founded in 2010, owns and operates a charging network that features over 850 fast charging locations across 30 states and 60 metropolitan areas.
The company claims that its network is the nation’s largest public fast charging network for electric vehicles, while also being powered by 100% renewable energy. As of August, EVgo serves more than 444,000 customer accounts.
EVgo fast chargers are compatible with all fast-charge capable electric vehicles on the market. Drivers have the ability to charge their vehicles through the EVgo app, EVgo program card, Autocharge+ or with a credit card. EVgo customers can also earn points toward charging credits after every session through EVgo Rewards™.
Shares of EVgo trade on the NASDAQ under the ticker symbol EVGO.
5. Tritium DCFC (NASDAQ: DCFC)
Tritium DCFC, a global leader in direct current fast chargers for electric vehicles, recently celebrated the opening of its new EV fast charger manufacturing facility in Lebanon, Tennessee.
The facility, which is the company’s first in the United States, will employ more than 500 people over the next five years and help build EV charging infrastructure, meet US government goals, and electrify transportation across America and beyond.
Tritium’s Tennessee facility will initially produce the company’s award-winning RTM fast charger, and is expected to start production on its PKM150 charger early next year. These advanced DC fast chargers are compatible with all electric vehicles while being compact, reliable, and cost effective.
Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles.
Shares of Tritium DCFC trade on the NASDAQ under the ticker symbol DCFC.
Additional EV charging stocks that investors should keep their eyes on include:
- Beam Global (NASDAQ: BEEM)
- Naas Technology (NASDAQ: NAAS)
- Charge Enterprises (NASDAQ: CRGE)
- Volta Charging (NYSE: VLTA)
- Nuvve (NASDAQ: NVVE)
For a full list of electric vehicle charging stocks, news and quotes visit: https://greenstocknews.com/stocks/ev-charging-stocks
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