Welcome back everyone, so in todays video we are going back to the ev battery supply chain,
as the long awaited infrastructure bill has now been passed which provides a huge catalysts for
the sector. The US Congress passed the $1.2tn Bipartisan Infrastructure Bill,
of which about $7.50bn in new spending is being allocated to electric vehicle
infrastructure, over five years, with the potential for additional funding.
So I have updates for you on three top ev charging stocks which have bright outlooks on the back of
this bill. So if you are bullish about ev charging then make sure you watch the entire video as I
have another ev charging gem for you at the end, which is highly speculative right this moment but
has explosive potential. So you want to check that out and have it on your watch list as a minimum.
Also please drop a like on the video if you are bullish on ev charging stocks and turn on
the notification bell so you never miss out on these gems which have massive outlooks.
And to put things into perspective, here’s how one analyst puts the investment case for ev charging.
They say the investment in EV charging infrastructure will likely rise at a CAGR
of over 20% over the next 20 years.. There is a need for $60 billion in spending on EV charging
infrastructure by 2030 in the U.S. and Europe and over $190 billion by 2040, with an expected
need for over 300 million chargers by 2040. So to say the latest bill has allocated $7.5bn for the
next 5 years and the market is cheering indicates whats yet to come in this sector as that’s only
just over 10% of what is forecasts to be spent in the next 8 years. So absolutely massive outlook.
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The first stop, is EVGO Inc (EVGO) currently sitting at $13.4 with a market cap of $3.5bn.
It is responding very well to the bill passing being up 34.5%
on the day and it doesn’t end there as going into pre-market trading at the time of recording
it is up a further 27%. This is one of the EV charging stocks which came to the markets
through a SPAC vehicle with depressed valuation and I feel it is now being re-rated as you can
see it is up 71% on the month having bounced from its lows of $8 per share.
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles,
and the first to be powered by 100% renewable energy.
With more than 800 fast charging locations, EVgo’s owned and operated charging network
serves over 68 metropolitan areas across 35 states and more than 300,000 customer accounts.
UBER AND EVGO EXPANDed their PARTNERSHIP TO SUPPORT HIGH-VOLUME RIDESHARE DRIVERS
WITH FAST, RELIABLE PUBLIC CHARGING. They announced an expansion to its EV charging program
for rideshare drivers on Uber’s platform. With nearly one million rideshare vehicles on the road,
electrification of rideshare provides a significant opportunity
to add high-utilization drivers to EVgo’s network.
This expanded initiative builds upon the existing program's success to ultimately
increase access to, and utilization of, EVgo’s network of over 800 public fast chargers.
GENERAL MOTORS AND EVGO Also BOOSTed their BUILD PLAN FOR HIGH POWER FAST CHARGERS ACROSS THE
US. They announced an expansion of their fast charging infrastructure build-out collaboration
currently underway across the U.S. EVgo and GM previously announced a tripling
of the EVgo network with plans to build 2,750 charging stalls through to 2025.
In response to the growing demand for charging infrastructure and new vehicles coming to market
in the later years of the program, EVgo and GM have now expanded their build plan
to add another 500 high-powered DC fast charging stalls, bringing the total to 3,250 through 2025
and extending the geographic reach from 40 metropolitan markets to 52.
EVGO INC. REPORTed their 2021 THIRD QUARTER RESULTS stating that revenue increased to $6.2
million for the third quarter of 2021, compared to $4.8 million for the second quarter of 2021,
exhibiting 29% quarter-on-quarter growth. The network throughput reached 8.0 GWh with
31% quarter-on-quarter growth. Their total customer accounts grew to more than 310,000
at the end of the third quarter of 2021. They also Increasing full-year 2021 revenue guidance
to between $20-22 million and network throughput guidance to 24-26 GWh. What an outlook.
The next stop, ChargePoint Holdings Inc (CHPT) with a share price of $25.6
and a market cap of $8.2bn. Its share price is up 28.4% on the month but ytd
it is still down 30% giving it plenty more bullish upside with its latest record of breaking news.
ChargePoint is a market leader and has helped pioneer networked fueling, offering one of
the industry’s most comprehensive portfolios of hardware, software and services for commercial,
fleet and residential customers. Businesses, fleets and drivers turn to the ChargePoint
team for EV charging education, resources and technology as they look to participate in the
new fueling network. ChargePoint has more than 4,000 commercial and fleet customers
and has delivered more than 87 million charging sessions to date, but this is just the beginning.
Chargepoint announced they were accelerating their leadership position in the European EV charging
market with the closing of their acquisition of has·to·be, which combined with theirr
acquisition of ViriCiti and their existing broad portfolio of charging infrastructure solutions
positions them well in commercial and fleet segments. With these acquisitions, they grew
their talent pool and have state-of-the-art research and development centers across Europe.
These key milestones further strengthen their commitment to the European EV charging market,
to complement their position as a leader in EV charging in North America.
ChargePoint Reported Second Quarter Fiscal 2022 Financial Results;
Raising Full-Year Revenue Guidance. They said their quarterly revenue increased 61%
year over year. The Full-year revenue guidance was raised 15% to between $225 – $235 million.
Their Activated ports exceeded 118,000 as of July 31 with over 5,400 in Europe and over
3,700 DC fast charge ports. They also introduced a global fleet charging portfolio
and announced seamless charging integration in-vehicle and in-app with Mercedes-Benz USA.
ChargePoint is to Announce their Third Quarter Financial Results on December 7, 2021,
so some more exciting news expected in the very near future on this stock.
The next stop, is Volta Inc (VLTA) currently sitting at $11.2 with a market cap of $1.8bn.
It is tearing up already on the day up 8.4% on the back of stellar earnings results
and you can also see that run continue to after hours trading.
Over the month Volta is up 53% and ytd it is up by a tiny 1.8% indicating very early days
and plenty more room to grow as it has mostly remained flat for the best part of the year.
Volta Inc. is an industry leader in commerce-centric EV charging networks.
And their vision is to build EV charging networks that capitalize on and catalyze the
shift from combustion-powered miles to electric miles by placing stations where consumers live,
work, shop and play. By leveraging a data-driven understanding of driver
behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines,
Volta’s goal is to benefit consumers, brands and real-estate locations
while helping to build the infrastructure of the future.
Volta Inc. Reported Financial Results for Third Quarter 2021 stating that the third
Quarter Revenues Up 77% “YoY” to $8.5 Million, and up 22% quarter-over-quarter. They had a
50% YoY growth in Total Installed Stalls reaching 2,137 as of Sept 30, 2021, up 168 in the quarter.
Volta also Added new media brands such as Visa, DHL and Discover to the platform; while Comcast,
Dunkin’, FedEx, and Hulu returned as repeat advertisers. So a really interesting outlook.
And finally, The last one to have on your watchlist is TPG Pace Beneficial Finance Corp
(TPGY) which is the SPAC vehicle expected to be merged with EVBox Group.
EVBox is a leading global provider of smart charging solutions for electric vehicles with
Europe’s largest installed base of charging solutions and the most advanced cloud-based
software offering.. The deal was announced in December 2020 but yet to close on the back
of missed fillings which has led to speculation whether management would close it or not.
We anticipate an update by December but the opportunities here are massive
as with a share price of $10.91 and a market cap of $477m it is only a tiny fraction of its
peer group which we have just covered. And so being 55% down YTD, should the deal go through
not only would the upside be massive but a re-rating would most certainly be on the table
so one to watch in the event of a positive deal closure outcome.
So some very very interesting and mindblowing prospects ahead for these ev charging stocks
but only consider getting in if the price is right for you and if you fully understand the
risks. This video is not financial advice, a buy or a sell recommendation, but is meant to bring
some new and exciting stocks to your attention for you to do your own research.. As always
I would love to hear from you, so please let me know your thoughts on these top ev charging stocks
in the comments section below and what other ev charging stocks are catching your eyes lately.
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Thank you so much for being here and I look forward to have you in my next video. Thank you