EV Charging Monthly Report | July

06 July 2022

EV Charging ETF Monthly Report: Key Takeaways 

Blink Charging (BLNK) has completed the acquisition of SemaConnect, a company that provides EV charging infrastructure solutions in North America. Thanks to this transaction with an overall value of USD 200 million, Blink is currently the only EV charging company that implements full vertical integration, being able to control its entire supply chain and accelerate its go-to-market speed. [1]

EVgo (EVGO) has been selected by the California Energy Commission to receive two grants valued at USD 3.6 million, which will be used to deploy high-powered direct current fast chargers (DCFC) near multi-family housing (MFH) units. [2]

Beam Global (BEEM) has been awarded a contract from the state of California, by which local and municipal government entities, as well as government entities from other states, can purchase Beam EV charging systems at the California negotiated price. The contract will be effective until 2025, with a possibility of being extended until 2027. [3]

Wallbox (WBX) has recently partnered with Nissan, aiming to provide home EV charging solutions to Nissan EV owners. This initiative makes Wallbox part of Nissan’s ambitious plan to prioritize EVs and accelerate the electrification of mobility. [4]

Fastned (CTEK-SE) has raised a total of USD 23 million by issuing bonds at a 5% interest, with a maturity of 4.5 years. Furthermore, investors have extended USD 7 million worth of investments over previous issues. In addition, the company has opened its first ultra-rapid EV charging station in London, and it has been selected by the West Flemish Intercommunale (WVI) in Belgium to realize five large fast-charging stations on its business parks. [5]

Pod Point becomes the preferred EV home charger supplier of BMW Group, in the UK. It is a 3-year commercial agreement by which the car retailer will offer to customers the services of consultation and installation of the EV home charger. With this new deal, Pod Point will bring 6,200 new charging bays in the UK, in addition to the already existing 14,000+ charge points around the country. [6]

Ferrari plans to launch its first EV model by 2025 and aims to achieve 40% EV sales by 2030. This suggests that more traditional car makers are joining the EV trend, by providing customers a range from affordable models to EV supercars. [7] 

Please remember that past performance is not indicative of future performance.


Macro Outlook

EU states have agreed to ban the sale of internal combustion engine cars by 2035. This represents a big step for the EU moving towards the net-zero goal, and it also indicates that the market of EVs together with charging infrastructures will continuously expand as expected. [8]

The Biden administration has announced several investments within the private sector, worth more than USD 700 million combined, that make EV charging more affordable and accessible. Key investment companies include Electrify America (Volkswagen Group) and Siemens. Other companies such as ABB, ChargePoint and Tesla, are also mentioned in the press release. Moreover, with President Biden's Bipartisan Infrastructure Law, $7.5 billion will be invested to build a national network of EV chargers. [9]

Real Estate Developer LL Development plans to build a public charging hub called The Stack Charge, in California.[10] It will include retail shops, restaurants, outdoor lounge areas and other services like Wi-Fi. This is a model previously implemented by Tesla, that can redefine the charging infrastructure concept. These modern hubs have proven to be very successful thanks to the user experience they provide.

Bloomberg has published the new EV 2022 Outlook Report. According to the report, the adoption of EVs is an increasing trend which is expected to bring significant changes to the automotive industry. The electrification of mobility makes charging infrastructure an attractive market opportunity, however, more investments are needed to build an extensive charging network. There are currently almost 20 million passengers EVs, 1.3 million commercial EVs and around 280 million small electric vehicles. For the year 2025, EV sales are expected to increase to $20.6 million, which represents 23% of new passenger vehicle sales globally. [11]

Tesla Supercharging Network has reached 35,000 EV individual charging stalls. Based on previous data, it is possible that the amount of Tesla charging stalls will get to 40,000 units at the end of 2022. On the other hand, the non-Tesla Supercharger Pilot program has expanded further in Europe.[13] Currently, non-Tesla EVs can be charged at certain Supercharging stations in 13 countries. The program is expected to keep growing, in both current markets as well as new markets.

Past performance is not indicative of future performance. When you invest in ETFs, your capital is at risk.


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 30/06/2022. Please note that all performance figures show net data.


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