ChargePoint (CHPT) reported revenues of USD 65 million for the third quarter of the fiscal year 2022, representing a 79% increase over the same quarter in 2021.[1] It has recently partnered with Goldman Sachs Renewable Power and aims to reduce the cost for customers with the new financing solutions.[2] In the U.S., ChargePoint together with the Colorado Energy Office completed the first of six electric vehicle fast-charging corridors along Highway 40, expected to boost the company’s revenue streams. [3]
Blink Charging (BLNK) acquired EB Charging, a UK based integrated EV charging solution provider at a purchase price of USD 23.4 million to enter the UK market. [4]
EVgo (EVGO) reported full-year revenue of USD 22.2 million for 2021, representing a 52% increase year-over-year. [5]
Wallbox (WBX) announced 2021 revenue of USD 86
million, an increase of 266% compared to the full year 2020. While the first
U.S.-based manufacturing facility in Arlington is under construction, Wallbox
has inaugurated its third factory in Barcelona to supply the fast-growing home
charger market.[1]
[1] Wallbox inaugurates new
factory, its third, in Barcelona to supply the fast-growing home-charger market [6]
Zaptec (ZAP.OL) received another Red
Dot Design Award after winning Brands & Communication Design in
2021. Its home charger -- Zaptec Go -- has received the Product Design
award in 2022, receiving recognition from top global industrial designers for
their retail oriented product range.[7]
Revenue of Zaptec in 2021 reached ca. USD 52 million growing at a rate of 123%,
with Q1 2022 also showing a growth of 81% over the same quarter in 2021.
Fastned
(FASTN.AS) has doubled charging revenue to EUR 12.4 million in 2021 and
recorded one million charging sessions, despite the lockdown measures and
work-from-home regimes in its key markets in Europe.[8]
The sales growth continues in the first quarter of 2022, with an increase in
charging revenues of 185% compared with Q1 2021.[9]
Macro Outlook
We expect the market for EV Charging Infrastructure to continue growing as COVID-19 restrictions are further eased in key markets and more commuters return to the roads. As the same time the global trend towards registrations of new electric vehicles remains in place. [10]
We expect the strong growth in revenues and charging sessions to continue as governments continue to incentivize electric vehicle purchases in order to meet net zero carbon emission goals. This is likely to further accelerate as purchasing bans for combustion engine cars start kicking in towards the end of the decade. [11]
We currently do not see a negative impact on the industry deriving from the war in Ukraine. On the contrary, as governments rush to achieve independence from Russian imports, further emphasis is placed on the expansion of alternative engine types such as the electric vehicle. We see no indication that Paris Agreement goals or measures will be delayed or abandoned. [12]
EVgo has partnered with Nissan, BMW and GM etc., while at the same time there is cooperation between ChargePoint and Toyota, Mercedes-Benz and Polestar. [13] There is an increasing number of partnerships with automotive manufacturers, and we expect the trend will continue. This will provide EV charging companies a stable and loyal customer base, as the driver’s charging experience is customized, optimized and integrated. [1] BMW Charging Powered by EVgo; Volkswagen Group and bp launch strategic partnership to rapidly roll-out EV fast charging in Europe
EV Charging ETF Performance Table (As of 30.04.22)
|
|
1M
|
3M
|
6M
|
YTD
|
12M
|
SI
|
|
Electric Vehicle Charging Infrastructure Equity UCITS ETF (ELEC)
|
-8.82%
|
N/A
|
N/A
|
-8.82%
|
NA
|
-8.82%
|
|
Solactive Electric Vehicle Charging Infrastructure Index
|
-8.76%
|
-9.93%
|
N/A
|
-8.76%
|
N/A
|
-8.76%
|
Performance before inception is based on back-tested data. Backtesting is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in this product. Source: Bloomberg / HANetf. Data as of 30/04/2022. Please note that all performance figures show net data.
Learn more about our EV Charging ETF.