As the old saying goes, you should always diversify your investment portfolio. The same applies to the electric vehicle industry. EV Charging stations and electric cars in California go hand in hand.
Charging stations will almost always have a guaranteed user base with ongoing demand. This ensures a continuous supply of revenue throughout the year. Charging station companies will see a massive rally in stock pricing as demand surges.
There are two ways of investing in EV charging stocks. You could spend all your savings in one company in the hopes of maximizing returns. Or, you could spread your savings across many promising EV charging stocks.
Here is our list of the top EV charging station companies.
You know Rivian for its innovative electric cars. What you don’t know is that Rivian also has a comprehensive charging infrastructure network.
These charging stations are distributed across North America, rivaling Tesla a run for its money. Rivian also introduced their ‘adventure network’ – a link of fast-charging stations.
The EV maker recently opened three EV fast charging sites in Colorado and California. Each site can provide over 200 kW of power to Rivian cars.
This would allow drivers to add as much as 140 miles in under 20 minutes. Rivian plans on expanding its Adventure Network across recreational sites.
They are currently eyeing locations such as Yosemite National Park and Mammoth Lakes. Rivian also provides Wall Chargers that make it easy to charge EVs on the go.
More importantly, Rivian pledges to use 100% renewable energy. Motorists can finally realize their goals of minimizing their carbon footprint.
Despite facing an uphill struggle with supply chain issues, Rivian has delivered on all fronts. The EV maker is finally profitable, with stock prices expected to rally very soon.
The stock price for Rivian Automotive is just under $33 at the time of writing. Investors are entirely on board with Rivian and expect to make incredible gains.
We expect Rivian stock to gradually climb up to smash the $100 milestone in 2023. These predictions are made on the backs of strong, consistent performance.
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Chances are, you haven’t heard of SunPower Corporation. Why would you when names like Tesla and ChargePoint overshadow the company?
Their novelty is a key reason why SunPower Corporation has relatively low stock prices. SunPower Corporation’s vast network of charging stations will play an essential role in EV infrastructure.
The company is focused on minimizing its carbon footprint. They primarily leverage solar power for their charging stations.
SunPower Corporation has aggressively partnered with businesses to lay out EV charging infrastructure.
Their most recent partnership is with Wallbox N.V., having deployed charging stations in 2021.This makes them relatively new to the scene and, therefore, riskier to investors.
However, their stock price has gone from $6 in 2018 to $20 in 2022. All this progress comes despite stiff competition from other EV charging companies.
The company continues to make enormous progress with a promising future. However, they have yet to reach the coveted 1,000 mark for charging stations.
For this reason, we would place them in the ‘high risk, high reward’ category. Stock prices for SunPower Corporation could go either way.
It is suggested to consult with an experienced investor before buying SunPower Corporation stocks.
ChargePoint is to EV charging infrastructure what Tesla is to electric cars. The company leads the market in charging stations and has Tesla beat.
They have 30,000 stations in the US alone. Very few companies come close to this number. Moreover, ChargePoint has a network of 100,000 charging stations in other countries.
ChargePoint is also partnering with a number of businesses to further their interests. Their most recent partnership with Sunnova Energy speaks to their ambitious goals.
Of all the companies on this list, ChargePoint is the most experienced. Without their network of charging stations, EVs will have difficulty extending their range.
This is precisely why ChargePoint is expected to perform phenomenally well with their stock prices. At just shy of $15, their stock prices are extremely undervalued.
To sum up, ChargePoint has 188,000 charging stations and 320,000 ports. No one even comes close – not even Tesla.
Given their extensive infrastructure of EV charging stations, ChargePoint is arguably the safest stock option.
Blink Charging Co. comes very close to ChargePoint but is barely keeping up. It has deployed little more than 32,000 charging stations in 19 countries.
This incredible feat makes them a formidable opponent to other EV charging stations. However, Blink Charging Co. is having a hard time breaking even.
Worse still is the fact that they made just $9.8 million in Q1 2022. This was a 345% increase from $2.2 million from Q1 2021.
Blink’s rapid growth may sound promising until you look at the numbers closely. The company acquired revenues from Blue Corner in 2021.
Their revenues include network fees, ride-sharing services, and charging revenues. While the increase in revenue is always welcome, it is still a relatively small company.
Their market cap is a whopping $681 million, which shows enormous growth potential. Stock prices for Blink Charging Co. stood at $20 at the time of writing.
Is Blink Charging worth your investment? The numbers seem to indicate so. They doubled their chargers from 17,000 in Q1 2021 to 36000+ in Q1 2022.
This kind of progress has to count for something. Blink continues to grow from strength to strength.
It would be foolhardy not to invest in Tesla, even if prices are sky high. Tesla continues to dominate the market and isn’t showing any signs of slowing down.
They were the first to capture the market and continue to innovate new products. Tesla will likely remain a key player in the industry.
Their market share and sales continue to escalate – it’s almost inevitable. The EV maker also has a massive network of chargers.
They recently installed nearly 300 new superchargers in 2021 to overhaul EV infrastructure. Given how Tesla leads on every front, it is hard to see them getting toppled.
Furthermore, Tesla’s massive stock price indicates investor confidence in the company. Elon Musk has a cult status, and stock prices seem to fluctuate on his whims.
Tesla operates over 35,000 superchargers around the world. They also boast having the fastest charging stations in the world.
Tesla aims to install their supercharger in convenient locations around the world. They are located near convenient amenities and superstores.
It would be hard to miss a Tesla supercharger on your travels. By all accounts, Tesla is showing absolutely no signs of stopping.
The highly anticipated Tesla Cybertruck will likely send prices higher than they currently are. The stock price for Tesla is just shy of $840. And it won’t be long until Tesla crosses the $1000 milestone.
It may seem out of reach to invest in Tesla. However, readers can always purchase fractional shares of Tesla.
Fractional share investing is useful when share prices are too high for investors to afford. Watch out for commission fees though – they can easily rack up your total.
We recommend using trading apps like Robinhood to invest in fractional shares.
Volta is emerging as the foremost solution for EV charging.,
Volta does not make electric cars. This means they can focus all their resources and manpower on expanding their charging infrastructure.
This isn’t to say that growth comes easy to Volta. The EV charging specialist has experienced hurdles with their stocks.
Volta recently underwent a change in management. This sent investors into a hurried frenzy to sell their stocks.
Volta’s stock prices have plummeted from $5 to all-time lows of $1.3. This is good news for opportunistic investors looking for low-priced stock options.
The company’s financial data is also looking very promising. They reported revenues of over $20 million in 2021. This is an increase of 82% during the same period in 2020.
For a fledgling newcomer like Volta, these numbers are an encouraging sign. Volta is also planning on aggressively expanding its EV charging station network.
They currently have over 2000 charging ports throughout the United States in 800 station locations.
It goes without saying that ChargePoint absolutely dwarfs their charging network.
Moreover, Volta recently launched its Charging for All Initiative. This first-of-its-kind platform is focused on building EV infrastructure for disadvantaged communities.
Volta will use funds from the Justice40 Initiative as the federal government directs. The initiative was announced last year as part of the Infrastructure Investment and Jobs Act.
IIJA calls for the delivery of 40% of federal investments to disadvantaged communities.
So is it a good idea to invest in Volta stock? To make an educated guess, we must understand how the company makes its money.
Their primary source of revenue is the sale of media display time on charging stations. The secondary resource is network deployment.
This includes installation, maintenance and operating services and the sale of charging products to hosts. Advertisements account for a whopping 87% of their sales.
Revenue from the charging stations decreased every year. In other words, investing in Volta depends on whether they can capture interest from brands.
Most of the charging stations are owned by Volta. Only eight are customer-owned. This indicates that site hosts do not find Volta installations to be lucrative.
Volta can always increase their ad venue by installing more self-owned charging stations.
The above numbers do not indicate doom and gloom for Volta. The EV charging business model is still in its nascent stage. There are many ways that a company like Volta can boost its revenue.
However, based on the above numbers, we do not recommend investing in Volta. But stock prices are extremely low, and, therefore, very attractive to investors.
It remains to be seen if Volta will expand their presence in the coming months. If they can successfully expand their infrastructure, they will do phenomenally well for investors.
We recommend investing only what you can afford to lose.
EVgo is an emerging player in the industry with a growing network of charging stations. They represent an excellent opportunity for investors because of their excellent financials.
The company posted record revenues in the second quarter. They also have a decent growth strategy in place
As more motorists adopt EVs in droves, EVgo will boost its revenue. What sets EVgo apart from the crowd is that all stations run on renewable energy.
EVgo currently has 800 fast charging locations around the world. They also have 1,200 level 2 charging stalls.
The company is all set to expand their network to 3250 charging stations by 2025. They also have 2000 charging stalls under construction.
The stalls are set to become operational in the coming 1 to 2 years. Their stock prices are riding on the coattails of all the progress.
EVgo also announced partnerships with Toyota and Subaru. The latter has even selected EVgo as their preferred EV charging partner.
Moreover, Toyota’s customers will receive complimentary charging at EVgo stations for one year. Other partnerships with EVgo include Nissan and General Motors.
Finally, EVgo has registered phenomenal performance in the fourth quarter, further boosting its stock price.
They also had 340,000 customer accounts by the end of 2021. This is an increase of 47% in that year.
Their stock price is currently valued at $8.2 and is on an upward trajectory. Another interesting fact is that EVgo has captured nearly 80% of customers driving non-Tesla EVs.
The coming months and years are looking exceptionally promising for EVgo.
Expect to see more startups that aim to expand the network of charging stations worldwide. These companies are not publicly traded yet, but this may change soon.
Remember, this is a growing market – but there is an element of risk attached to investments. Making early investments can make a massive difference in returns.
The most promising charging station companies are ChargePoint, Blink Charging Co., and EVgo. Which stocks do you plan on buying?
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