Check Out These EV Charging Stocks In The Stock Market Today

Electric vehicle (EV) charging stocks have seen some correction lately, potentially making them attractive investments in the stock market. EV king Tesla (NASDAQ: TSLA) proved that the EV business can be quite lucrative, as it shipped nearly 1 million vehicles leading to net income of $5.5 billion. With electric vehicles looking to go mainstream, charging infrastructure will have to keep up. This is so that we could charge these EVs at home, on road trips, and in any public charging areas.

What’s more, the Biden administration rolled out a plan that allocates $5 billion to build a network of EV chargers earlier this month. The plan will help states build a network of EV charging stations along designated alternative fuel corridors on the national highway system. Additionally, the administration has also pledged that half of the vehicles sold in the U.S. will be electric or plug-in hybrids by 2030.

As the EV charging industry is still a somewhat nascent industry, there is no shortage of exciting developments. Earlier this month, EV charging company Volta (NYSE: VLTA) announced that it will be expanding its collaboration with Walgreens (NASDAQ: WBA) to install 1,000 fast charging stalls at over 500 Walgreen stores throughout the U.S. With all that said, here are five EV charging stocks to check out in the stock market today.

EV Charging Stocks To Watch In March 2022

Beam Global

Beam is a clean technology company that designs and manufactures renewable energy products. Notably, these products include EV charging infrastructure, solar products, energy security, and disaster preparedness to name a few.

BEEM stock

Last Wednesday, Beam announced that it will be buying AllCell, a battery tech firm that makes safer lithium-ion batteries. The acquisition, which is expected to close out by March 1, could be valued at up to $30 million. In fact, Beam has been using AllCell’s flexible battery platform architecture in its products for 10 years running. Besides that, Beam and AllCell are looking to expand battery manufacturing. 

In other news, at the start of February, the company announced that its EV ARC system shipments increased 62% compared to the year before. Besides, the company also managed to expand its sales to include the automotive, construction, pharmaceutical and education industry to name a few. Beam believes that it has seen growth and success on multiple fronts in 2021. This gives the company strong momentum in 2022 as EV charging infrastructure continues to pick up pace in the government and corporate sectors. With things looking good for Beam so far, should you invest in BEEM stock?

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ChargePoint

ChargePoint is one of the top names in the EV industry today. Briefly, it is an EV infrastructure company that operates one of the largest online networks of independently owned EV charging stations. Namely, it has over 26,000 public charging stations spread across the U.S. Globally, the company has 118,000 charging stations. For the most part, the company commits itself to making it easy for businesses and drivers to go electric with its wide portfolio of charging networks and solutions. 

CHPT stock

Last week, ChargePoint entered into a partnership with Wheels Donlen, a leader in automotive fleet management. Under the terms of the agreement, Wheels Donlen and ChargePoint will be providing tools its customers need to electrify their fleet. This includes at-home charging hardware, access to over 125,000 public-charging points and ChargePoint’s cloud software.

In detail, the ChargePoint cloud software provides a complete view into energy savings and charging activity for any fleet vehicle. In addition, it also allows for comprehensive reporting on fleet activity and aggregated billing. Thus, giving customers the data needed to understand their charging habits, total energy use and more. Given this, is CHPT stock a buy?

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Wallbox

Wallbox is a company that creates EV charging and energy management systems. These enable users to control their power consumption and save money. Its main product is the Pulsar Plus, which aims to be a compact yet powerful and fast EV charger at home. The company also offers a vast portfolio that covers charging and energy management solutions for residential, semi-public, and public use in more than 80 countries. 

WBX stock chart

On February 22, Wallbox announced a partnership with Polaris (NYSE: PII), a leading company focused on powersport vehicles.

In this partnership, Polaris will be selling the 40 Amp version of the Pulsar Plus charger. This would effectively allow Polaris customers to charge their recreational EVs faster. Moreover, the Pulsar Plus is the smallest home charger on the market and is compatible with all EVs. Given this partnership, do you think WBX stock is worth watching?

EVgo

Another top EV charging company in the market today is EVgo. The company claims to have the largest public fast-charging network in the U.S. Furthermore, it uses 100% renewable energy to power its charging stations. The company has over 800 fast-charging locations that serve over 65 metropolitan areas across 34 states.

EVGO stock

On top of that, the company claims that more than 130 million people in the U.S live within a 10-mile drive of an EVgo fast charger. Impressively, the company’s charging stations boast a charge time of between 15 to 45 minutes.

Earlier this month, Subaru of America selected EVgo as its preferred charging partner. This news comes Subaru unveiled its first-ever zero-emissions vehicle, the 2021 Solterra EV SUV. As such, Subaru drivers will have access to all the benefits of EVgo’s extensive network of chargers. Furthermore, drivers will also have access to EVgo services such as its 24/7 customer support for assistance, and access to EVgo’s mobile app to name a few. Considering this, does EVGO stock have a spot on your watchlist?

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Finally, we have Blink Charging. As you may have guessed from its name, the company is a provider of EV charging equipment and charging services. Blink’s principal line of products and services includes its Blink Network and EV supply equipment (EVSE).

top ev stocks to watch (BLNK Stock)

For a sense of scale, the company currently operates over 30,000 charging ports across 13 countries. In addition, its charging stations are linked via its global network, allowing users to conveniently charge at any of its locations worldwide. 

In January, Blink announced that it is deploying EV chargers at General Motors (NYSE: GM) dealerships in the U.S. and Canada. Blink will be supplying its IQ 200 Level 2 chargers to participating GM dealerships. In brief, Blink will be working with facility solutions provider ABM Industries (NYSE: ABM) which will deliver turnkey EV charging installations. Ahead of its fourth-quarter earnings release on March 10, will you be keeping an eye on BLNK stock?

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