10 Best EV Charging Station Stocks in 2022

Stocks in electric vehicle (EV) charging stations are great renewable energy investments that will help to reduce carbon emissions. These EV charging station stocks also offer investors who care about the environment steady and good returns on their portfolios.

EV king Tesla showed that selling EVs can be a very profitable business when it sold nearly 1 million of them and made a net profit of $5.5 billion. 

As electric cars become more popular, charging stations will have to keep up. This is so that we can charge these electric vehicles at home, on the road, and at any public charging station.

Overview of EV charging station industry

The effects of COVID-19 were felt in the global economy and the market for electric vehicle charging stations.

There were numerous lockdowns taking place in different parts of the world. Because people stayed at home, there was far less traveling and general motion. 

People were no longer required to drive automobiles to travel to work or meetings. Therefore, there was a significant decrease in the number of times electric vehicle charging stations were utilized.

People are paying an ever-increasing price for petrochemical products, particularly in less developed nations.

One option available to these individuals is to reduce the amount of driving they do (easier said than done, of course). Switching to electric vehicles, which have lower operating costs, is another choice that can be made. 

Additionally, manufacturers are researching innovative ways to produce electric vehicle batteries that have a longer lifespan, improving driving range.

If charging stations for electric vehicles (EVs) were more affordable, more people might utilize them. The lower cost of electric cars and batteries will likely benefit stock prices.

It is anticipated that the Asia-Pacific region will have the most electric vehicle charging stations during the next five to six years. 

One of the primary causes for this expansion is the economic situation in China. The fact that the economy is expanding consistently will benefit the expansion of electric vehicle charging stations.

Another factor contributing to growth is the Chinese government encourages its citizens to purchase electric vehicles.

To develop the charging station system for electric cars (EVs) across the country, the federal government plans to spend a total of $2.4 billion by 2020. 

Countries such as Korea, Japan, and India have strategies to boost the number of electric vehicles in their respective countries.

Why should you invest in EV charging stock stations?

The renewable energy movement is powered by the electric car and charging station industries. Thus, the charging industry will grow because millions of electric cars must be charged regularly. So it's the safest choice to stay ahead of the curve.

Besides consumer cars, the following vehicles will need to be charged with electricity:

• Vehicles for business

• Tractors

• Delivery vans

• Delivery trucks

• Buses

  
  

Blink Charging says that more than a million electric cars are in the United States. This number is expected to rise by 13 million by the year 2030.

List of 10 best EV charging station stocks in 2022

1. Tesla (TSLA)

Tesla is the best large-cap EV charging station stock (also known as the world's most valuable EV car maker). But in reality, it is a clean energy company with a wide range of products.

Most investors know that Tesla's income from EVs is growing. But you may not know that Tesla also owns and runs its EV charging stations.

The network of superchargers for Tesla cars is the world's largest fast-charging network. In just 15 minutes, a supercharger can add up to 200 miles (321 km) of range.

As of Q1 2022, Tesla has 3,724 supercharger stations worldwide, up 38% from last year. Each quarter, Tesla has added a few hundred stations to this number. There are 33,657 supercharger connectors (up 35% year over year).

Even though Tesla isn't just an electric vehicle charging Station Company, I think it's the best overall EV play for investors. This is because of its disruptive technology, world-class leadership, and ability to develop new ideas years before the competition.

Elon Musk wants to make 20 million electric vehicles by 2030. In 2021, Tesla delivered 936,000 cars. So, Tesla needs to add more superchargers to keep up with the huge number of Tesla cars on the road.

I think it's the safest overall EV charging station stock pick because Tesla will continue to grow and gain influence as long as Elon Musk keeps pushing the company forward as the #1 EV innovator in the world.

2. Chargepoint (CHPT)

I think the best mid-cap EV charging network stock is Chargepoint, which has the largest EV charging network in North America.

Chargepoint has more than 188,000 working charging stations. It accompanies 73% of the US market, much more than SemaConnect and Blink.

Has-to-be and ViriCity are two companies that the company recently bought to add more charging ports in Europe. Both purchases will add about 42,500 charging ports in Europe, which should help Chargepoint pass the 150,000 charging port mark.

Chargepoint made $242 million in sales in 2021, and a 58% CAGR over the next 5 to 10 years is expected.

Chargepoint started building out its charging network years before its competitors did. Chargepoint's CEO, Pasquale Romano, is an engineer who went to Harvard and helped the company become a huge success.

Thus, it makes money by selling its hardware to third parties and getting recurring income from its software and per Kwh charging services. The Chargepoint app has been downloaded more than 500,000 times and given 4.6 stars in the Google Play store.

3. Blink Charging (BLNK)

Blink Charging is the best small-cap stock for electric vehicle charging stations. It is an excellent competitor to Chargepoint in the US market.

Blink's charging network has more than 190,000 members. Thus, it runs more than 30,000 charging stations in 13 countries, including the US, Europe, and the Middle East. It is slightly different from Chargepoint because they own and run all their charging stations.

This makes it harder for Blink to grow. But still, it is a good investment because all stocks in EV charging stations should do well in 2022 and beyond.

Blink made $20.9 million in sales in 2021, a 236% increase from the previous year. However, BLNK stock trades at a very high Price to Sales ratio of 54. 

Thus, Blink Charging stock seems overpriced unless you think sales will increase and don't mind holding on to the stock for a long time.

Michael Farkas, the CEO of Blink Charging, started the company. This is a good sign because founder-led companies tend to do better in the long run than other stocks. Blink is a small-cap stock, so it sells new shares to pay for its growth and expansion.

When a company sells stock to raise money easily, it makes the value of the existing shareholders less. Not every stock sale is terrible, though. 

Tesla is the world's most significant electric vehicle (EV) car company. Elon Musk often uses stock services to increase production and deliveries of EVs as a whole. Blink is one of the smaller electric vehicle (EV) charging station stocks in the US.

4. Wallbox (WBX)

Wallbox is an EV charging company based in Spain, making it a more prominent name in the smart charging market. 

Late in 2021, the SPAC merger between the company and Kensington Capital Acquisition Corp was finished. This makes the company the first Spanish tech company listed on the NYSE.

Wallbox made $86.5 million in 2021 (up 266% from the previous year) and sold 129,000 chargers (up 261% from the prior year) in almost 100 countries.

Thus, Wallbox's best-selling level 2 chargers, Pulsar Plus, are sold worldwide. The company's flagship product allows for fast, reliable level 2 home charging with WIFI and other vital features.

The company also reached several other essential goals. This includes running an ad during Super Bowl XVI and starting to make things in its brand-new 121,000-square-foot factory in Barcelona, Spain.

Due to Uber's goal of having no carbon emissions by 2030, a more extensive partnership with Uber drivers will also help boost sales and revenue. With a Price to Sales ratio of 23, WBX stock is reasonably priced and could start making money in 2024.

WBX shares are worth a look if you are looking for an excellent European EV charging stock with crucial partnerships and growing revenue.

5. EvBox

The most extensive EV charging network in Europe, EVbox, was supposed to merge with TGPY in a SPAC deal. But both companies backed out of the deal in late 2021, when there was a big tech selloff.

EvBox is still open to a future SPAC merger, so I'm still including them in this article as a possible investment. It has more than 190,000 charging ports in 70 countries, which makes it the market leader in Europe.

Plus, Evbox and Chargepoint are the two most prominent brands in the EV charging station business. Both are based in Norway. The company makes money by selling equipment and software subscriptions, services, and transaction processing fees. This brings in money regularly.

The company has fast-charging stations for AC level 2 and DC ranging from 3 to 300 kw. The SPAC merger is expected to finish in the second quarter of 2021, with a market cap of $1.3 billion. 

Evbox also wanted to grow in the United States in 2021, but I think Europe is where it makes most of its money.

One good thing about EVbox is that European governments are doing a lot to stop the sale of ICE vehicles so that people have to drive electric cars. This will only help EVbox get a more significant market share and make more money, both now and in the long run.

With sales of more than $120 million a year, the EVbox merger will give investors a rare chance to buy a high-growth stock in a multiplying European market.

6. Beam Global

The beam is a company that designs and makes products that use renewable energy sources. EV charging infrastructure, solar products, energy security, and disaster preparedness are just a few of the products that stand out.

Beam said it would buy AllCell, a company that works on batteries and makes safer lithium-ion batteries. The deal, which should be finalized by March 1, could be worth as much as $30 million. 

Beam's products have used AllCell's flexible battery platform architecture for the past ten years. Beam and AllCell also want to make more batteries and make more of them.

7. EVgo (EVGO)

Climate Change Crisis Real Impact I Acquisition Corp and EVgo will join forces to make America's largest fast-charging EV network available to the public.

The good news is that EVgo already makes $14 million a year and has plans to make $1.2 billion by 2027. The company is already working with Tesla and other electric vehicle (EV) manufacturers to add EVs to its fast charging network.

At the moment, EVgo runs 800 fast charging stations in 34 states in the U.S. EVgo has a deal with General Motors to triple the number of charging stations it has. It also has agreements with Uber and Lyft.

In a past episode of Mad Money on CNBC, Jim Cramer said that EVgo was his favorite EV stock pick.

8. Volta (NYSE: VLTA)

Volta Charging and Tortoise Acquisition II Corp merged to make Volta a public company. The whole deal was worth $1.8 billion.

This company wants to shake up the whole EV charging market with a diverse revenue strategy. They focus on selling ads at prime retail locations to help nearby businesses get their names out there. 

Most EV charging companies only sell energy, but Volta will sell ads and power by offering a free 30-minute charging session to attract customers. Volta says its disruptive technology is like those of Netflix, Amazon, Priceline, and Airbnb, which are all growing businesses.

Volta has 1,507 EV charging stations set up so far, and their goal is to have 26,242 by 2025.

The company thinks it will make $47 million in 2021 and wants to make $825 million by 2025. Volta's advertising strategy could help them start making money as soon as 2023.

Once the SPAC merger is approved, VLTA will be the NYSE's ticker symbol for Volta Charging. Once the merger is all done, there will be about 203 million shares in circulation, and Volta will get $600 million in cash to help it grow its business.

Volta, with a P/S ratio of around 40, charging is a bit pricey. But many EV charging stocks trade at higher prices because the industry is expected to multiply.

If Volta's sales reach just under $1 billion by 2025, the company could easily be worth between $20 and $40 billion. From where its price is now, that's a 10x to 20x gain.

9. Rivier

Rivian Automotive (RIVN) is a company in California that makes electric cars. It's a name that somehow comes up frequently in EV conversations because it has a close relationship with Amazon. The company makes electric pickup trucks and SUVs.

Rivian went public in the first few weeks of November 2021, and its first day on the stock market was valued at $80 billion.

The company is also known as one of the best EV stocks overall. It is similar to Tesla, General Motors, NIO, and Ford. This is because it builds an extensive network of fast chargers and infrastructure for charging EVs.

Rivian wants to be present in North America with 10,000 Level 2 chargers and 3,500 fast chargers by the end of 2023.

10. Sixth, ABB Ltd.

ABB is one of the most well-known companies in the world that makes big electrical machines, robots, and automation systems. The company is not only one of Switzerland's largest employers, but it has also been around for almost 25 years.

All three company business areas made money in the first and second quarters. ABB is also coming up with new ideas for its electrification business.

It recently changed the e-mobility division and gave it a new look. Motion, robotics, discrete automation, and process automation are some of its other areas.

ABB has grown the most in China, with a 24% increase from last year to this year. Analysts think there is much room for growth in countries connected to South America, North America, and the EU.

Related questions: 

1. Is ChargePoint a long-term investment?

Despite supply chain problems, global electric car sales reached 2 million in Q1 2022. ChargePoint's long-term macroeconomic prognosis is favorable.

2. Can I buy EV chargers?

Investing in electric car charging stations means supporting infrastructure development. You can invest in charging network companies, like gas station networks, to produce a continuous income stream.

3. Will stocks for EV charging ever go up?

51,000 Chargers were sold last year. The company's 41.4% gross margin exceeded more expectations. Wallbox expects 100%-115% revenue growth this quarter.

Final words 

Investing in the EV industry is a great idea right now. Even though I can't promise that EV charging station stocks will go straight up, I think that patient investors will make a lot of money.