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The importance of charging infrastructure

The charging infrastructure is “just as important to the electric car experience as the car itself,” Brownlee pointed out.

“Imagine explaining to your parents, your grandparents, or anyone who’s not super adept with technology especially, that instead of going to a gas station they need to make sure they find a working charger with the right adapter and all this — it might take longer, it might be a slower charger, it might be broken.”

And it could be a major hurdle to electric car adoption.

“There’s been versions of this before, where people are actually, genuinely mad, like, ‘I don’t think the electric car thing is for me,’” Brownlee remarked.

While it’s true that the experience of owning an EV may not yet be as smooth as some had hoped, the infrastructure is rapidly evolving.

Here’s a look at three companies that are installing charging stations across the country, and with an increasing number of EVs on the road this trio stands to make money.

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ChargePoint Holdings

Even though the woman in Brownlee's story didn’t have a pleasant experience with that particular ChargePoint charging station, the company is solidly positioned for the EV boom.

ChargePoint Holdings (CHPT) has one of the largest EV charging networks in the world. The company says it has around 5,000 commercial and fleet customers, including 80% of Fortune 50 companies. Since its inception, ChargePoint has delivered more than 158 million charging sessions.

EV stocks weren’t market darlings in 2022 and this EV infrastructure play was caught in the sell-off as well. Despite a bounce in early 2023, ChargePoint shares are down 22% over the last 12 months.

That could give bargain hunters something to think about.

Blink Charging

With a market cap of around $412 million, Blink Charging (BLNK) is a relatively underfollowed name in the world of EV stocks.

Shares have been on a rollercoaster ride over the past few years.

At the beginning of 2020, Blink Charging was trading at less than $2 per share. It shot up to over $60 per share in January 2021 before losing momentum. Wednesday, it closed at $6.73.

Blink says it has deployed more than 58,000 EV charging ports across 25 countries. It uses proprietary-based software that operates, maintains, and tracks the EV stations connected to its network.

In Q4 of 2022, revenue rose 184% from a year ago to $22.6 million.

The increasing adoption of EVs should continue to fuel growth in Blink’s business.

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Tesla (TSLA) has long been the go-to choice for people looking for EV stocks — its market cap is now several times bigger than Ford and General Motors combined. But other than being an EV manufacturer, it’s also a play on charging infrastructure.

Tesla says it has deployed over 45,000 Superchargers around the globe that can add up to 200 miles of range in just 15 minutes.

“Since charging above 80 percent is rarely necessary, stops are typically short and convenient,” the company says.

As an EV maker, Tesla’s business is going in the right direction. In 2022, the company delivered 1,313,851 EVs, representing a 40% increase year over year.


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About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

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