Why ChargePoint Is My Favorite EV Charging Stock Right Now
2021 was a transitional year for the electric vehicle (EV) industry. Sector leader Tesla proved the business can be extremely profitable, as it shipped close to 1 million vehicles leading to net income of $5.5 billion. New start-up EV makers also entered the field at the same time legacy automakers committed tens of billions of dollars to convert their businesses.
Consumers will need to charge all of these vehicles at home, on road trips, in public charging areas, or at fleet staging areas. ChargePoint Holdings (NYSE: CHPT) is the leading charging network in North America, and is growing its presence in Europe. This makes it potentially one of the best investments in the charging sector.
Image source: ChargePoint Holdings.
Source Fool.com
