ChargePoint (CHPT) reported a revenue of $81.6 million in the first fiscal quarter of 2022, with an increase of 102% - marking record growth comparing with the prior year's same quarter.
Blink Charging (BLNK) has reported a strong 1Q 2022 result with $9.8 million total revenues. It marks an increase of 339% over the revenue in the same quarter in 2021, driven by an increase in product sales and service revenues. It also has recently partnered with Q-Park, a leading parking infrastructure owner and operator, to deploy nearly 600 charging points in the UK and Ireland. [2]
EVgo (EVGO) together with OSC-WEBco have been awarded a five-year Federal Blanket Purchase Agreement (BPA) with the United States General Services Administration (USGSA). In the next step, EVgo will provide a variety of fast charging, level 2 charging solutions and ancillary service for the federal fleet. [3]
Beam Global (BEEM) received orders from California Department of General Services to support their fleet of EVs. At the same time, Beam Global was also awarded a Federal BPA with USGSA.[4] It has reported $3.8 million revenues in the first fiscal quarter of 2022, delivered a 175% increase over Q1 2021. [5]
Wallbox (WBX) opened two new warehouses in North America to support strong consumer needs. It also announced the expansion of the existing partnership with Uber in Canada. [6]
CTEK (CTEK-SE) delivers over 1,000 EV charging points for Stockholm Parkering, which will support the Swedish parking company with their expansion. [7]
Compleo Charging Solutions (C0M-DE) helps to expand the urban charging infrastructure in Berlin by signing a two-year agreement with local public energy provider, Berliner Stadtwerke. [8]
Pod Point (PODP-GB) empowers Lidl’s charging network in the UK, and the network which offers a market leading price has over 200 rapid chargers. [9]
Please remember that past performance is not indicative of future performance.
Macro Outlook
Tesla has recently significantly expanded their Supercharger service in Europe by offering it to non-Tesla EV owners.[10] We expect this move will encourage more EV manufacturers to join the trend of granting cross-brand EV owners access to chargers. Pure-play EV charging infrastructure companies may have further and deeper cooperation with local authorities or commercial partners to expand the current public electric charging infrastructure network.
Despite the global difficulties on supply chain and rising inflation, the EV sales have a robust growth. In the U.S. and Europe, new EV registration numbers in the first quarter of 2022 have increased more than 60% in both regions comparing with last year.[11][12] Since more semiconductor factories and EV factories are under construction, and COVID restrictions are eased in most countries, we can expect that the EV sales would have better results as manufacturing would have stronger capacity and capability in the coming months.
According to a recent survey by University of California, Berkeley, more than 1/4 of the public charging stations in Greater Bay Area are not functional.[13] We believe the industry still has huge potential to improve the system instability identification process and also the current product quality, which will bring the industry one step closer to a mature industry
International Energy Agency launched Global EV Policy Explorer and summarized major national and local policies that support EV development.[14] We expect the strong growth in revenues and charging sessions to continue as international organizations and governments continue to incentivize electric vehicle purchases 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.
Past performance is not indicative of future performance. When you invest in ETFs, your capital is at risk.
EV Charging ETF Performance Table (As of 31.05.22)
|
|
1M
|
3M
|
6M
|
YTD
|
12M
|
SI
|
|
Electric Vehicle Charging Infrastructure Equity UCITS ETF (ELEC)
|
-6.72%
|
N/A
|
N/A
|
-14.95%
|
NA
|
-14.95%
|
|
Solactive Electric Vehicle Charging Infrastructure Index
|
-6.69%
|
-17.96%
|
N/A
|
-14.86%
|
N/A
|
-14.86%
|
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 31/05/2022. Please note that all performance figures show net data.
Learn more about our EV Charging ETF.