ChargePoint’s stock (CHPT.N) jumped by 21.6% in the first week of September. The company had recently released great quarterly results that offered a promising outlook. Moreover, one analyst from Credit Suisse stated that the company is going to benefit substantially from the Inflation Reduction Act as well as the Bipartisan Infrastructure Law in the US. 
We welcome AlleGo (ALLG.N) as a new component to the portfolio. Founded in 2013, it is one of the largest pan-European public EV fast charging networks and currently operates over 34,000 charging ports utilizing 100% green energy. It reported a revenue of EUR 50.7 million from first half-year of 2022, with a year-on-year growth of 148%. It provides fleets charging solutions for City of London, REWE (supermarket chain), Fluvius (utility company), and Uber in target cities. 
Blink Charging (BLNK.OQ) has entered into a mutual service agreement with UBS Asset Management in order to deploy Blink Charging stations in UBS-owned properties. In terms of network expansion, the company has deployed a total of 24 charging stations in the newly built properties from Veris Residential, located in New Jersey; and 2 Blink IQ 200 fast Level 2 charging stations in Newton, Iowa. Finally, SemaConnect (a company that was acquired by Blink Charging early this year) has installed four new charging stations in one of the Brown Investment’s properties. 
Wallbox (WBX.N) has partnered with American EV manufacturer Fisker to continue providing home EV charging solutions globally. That way, Wallbox’s chargers and installation service will be available on Fisker’s website in the US, Canada and Europe. 
EV charging companies are also improving the customer experience by optimizing the authentication process. The company EVgo (EVGO.OQ) has recently launched Autocharge+, Zaptec has recently presented its "Plug&Charge" prototype, both services enable EV drivers to start charging sessions by simply plugging their vehicle in without using an app or swiping a card. Both new processes digitalize the authentication step and make the charging session faster and easier. 
Tritium (DCFC.OQ) has raised $225 million from a consortium of investors. The capital will be used to fund working capital, product development, and operational support and expansion. Besides, the company has published its financial results for the full fiscal year 2022. It has achieved sales of $203 million, which represents an increase of 232% in comparison to the previous fiscal year and revenue accounts for $86 million, which shows a 53% increase. 
Kempower (KEMPOWR.HE) is going to collaborate with ZEF Energy to deploy DC fast chargers across the US, and it has been appointed to deploy several charging stations globally, as part of different projects to enhance the EV charging infrastructure. In Australia, the government has approved the project to build the longest EV highway, and Kempower will deploy a total of 42 C-stations. They will also supply 15 fast charging stations in Sweden, for the truck charging hub that will be built in Gothenburg, as well as 14 charging units in Romania, as part of the country’s plan to boost the national EV charging infrastructure. Additionally, Kempower is going to be part of the joint project to develop solutions that enable carbon-neutral shipping between Turku and Stockholm. They estimate that the target will be reached by 2027 and has received EUR 1,596,000 of funding from Finland Government. Furthermore, the company has received the Green Equity Designation from Nasdaq, which means that its charging products are contributing to the climate change mitigation, acting as an important enabler of the 2050 resolution. 
Please note that all performance figures are showing net data. Past performance is not indicative of future performance.
According to the International Energy Agency, EV sales are expected to hit all-time high in 2022. The organization has recently published their Tracking Clean Energy Progress update, in which they take a look at 55 parts of the energy system. On the subject of the EV market, the IEA stated that global sales doubled in 2021, representing almost 9% of the car market. They expect to see another all-time high for EV sales in 2022, lifting them to a 13% of total light duty vehicle sales globally. In the first quarter of 2022, EV sales account for two million, which represents a 75% increase towards the first quarter of 2021. 
Biden Administration has approved USD 900 million of funding to build EV charging stations in 35 states, as part of the infrastructure law that was approved last November. The US Government wants 50% of new vehicles sold to be electric or hybrid vehicles by 2030, with 500,000 new EV charging stations. Furthermore, all 50 states received final approval for building a national EV charging network, covering 75,000 miles of highways. 
Fleet electrification will play a decisive role in the EV transition phase, and we are glad to see the EV adoption has expanded beyond public sectors. The carsharing company Uber has decided that by 2030, its whole fleet will be electric and fossil fuel powered cars will not be allowed on their platform. Uber will spend $800 million to help offset the cost of its drivers. 
More US car makers have started their global EV expansion to Europe. The start-up EV maker Rivian has signed a strategic partnership with Mercedes-Benz to manufacture electric vans in Europe. This is the first international expansion of Rivian, which makes vans, pick-up trucks, and utility vehicles. The carmaker Jeep expects that half of its units sold in the US and Europe will be electric by 2030. The company will release four new electric models by 2025 and its first electric car will be sold in Europe from next year.
Please note that all performance figures are showing net data. Past performance is not indicative of future performance. When you invest in ETFs, your capital is at risk.
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