Hey everybody, I’m trying to decide whether or not any of these companies are worth investing in at the moment. Here’s my thesis:
-EVs are exploding in use and popularity. Basically every major car maker plans to transition to EV fully within the next two decades.
-More pressure will most likely be added to change to EVs sooner rather than later. The heat waves, especially in Europe, are flashing the warning signs about the dire climate crisis.
-Rapid expansion. All of these companies have expanded rapidly and/or have partnerships with major companies to expand.
Quick look at the companies, starting with EVGO.
-EVGO, Flying J and GM have a partnership and plan to install hundreds of charging stations across the country.
EVGO makes money by selling electricity to consumers. They partner with businesses to put charging stations there. It costs more to charge, but it charges faster than the competitors.
EVGO has increased its revenue each of the past 3 quarters, yet it is still not profitable. Cramer also said he likes it, so there’s that….
Blink Charging: has over 30,000 charging stations worldwide and increasing quickly. New installs are up 46% YOY and revenue is up, yet still not profitable. Blink also has a partnership with GM.
Charge point: focuses more on selling hardware and subscriptions. The largest one here, it is focused on growing its network and will likely not be profitable until 2024.
Positions: none in any.
Thoughts?
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