#CHARGE POINT COMPETITORS SOFTWARE#
be, an e-mobility provider with a leading European charging software platform" as per a Seeking Alpha News article published on July 20, 2021.In the middle of last year, CHPT expanded its presence in Europe by announcing an acquisition of "has In contrast, ChargePoint has non-US markets contributing 15% of its top line for the most recent fiscal year. Secondly, EVGO is a pure US play, while CHPT is relatively more geographically diversified.ĮVgo earned all of its fiscal 2021 revenue from the US, and its DC fast charging network is the biggest in its home market according to its 10-K. In its 10-K, ChargePoint emphasized that it "does not sell charging system hardware (networked charging systems revenue) without its software (subscriptions revenue), and rarely owns and operates networked charging system assets." In comparison, EVGO noted in its FY 2021 (YE December) 10-K filing that it "owns and operates a public direct current ('DC') fast charging network in the United States."
There are two key differences between EVgo and ChargePoint.įirstly, EVGO is an owner-operator of EV charging stations, while CHPT is a provider and seller of EV charging equipment.Īccording to ChargePoint's FY 2022 (YE January 31) 10-K filing, CHPT derived 72% of its most recent full-year revenue from networked charging systems, with the remaining 22% and 6% of its top line generated from subscriptions and other revenue, respectively. What Is The Difference Between EVgo And ChargePoint? In addition, CHPT boasts a lower forward five-year Enterprise Value-to-Revenue valuation multiple vis-a-vis EVGO. In my opinion, ChargePoint is superior to EVgo with respect to the larger size of its revenue base, relatively lower capital intensity, and a more diversified geographic exposure. ( NYSE: CHPT), I think that the latter, CHPT, is the better buy. Dow Jones’s commitment to increasing world - leading expertise in this arena will help our customers make informed decisions as they navigate major energy - related changes in the world as well as their own energy transitions.Дмитрий Ларичев/iStock via Getty Images Elevator Pitchīetween the two EV (Electric Vehicle) infrastructure companies, EVgo, Inc. " The world’s energy transi tion is a key issue of our time. The data system is designed to be a single source of truth for optimising EV charger navigation data and the charging experience, tracking EV users, operating costs, target demographics and operating figures.Īlmar Latour, CEO of Dow Jones & Co, said: " Our investment in Eco - Movement is a strong complement to our existing expertise in the renewable energy and sustainability arena.
Right now, Eco-Movement's customers include Tesla, TomTom, Shell, Apple and HERE. With its "independent B2B data platform," Eco-Movement wants to aggregate EV charging data from operators of public-access chargers in both Europe and North America. While the number of EV charging players is increasing, the UX is pretty fragmented and the capabilities of each charging point vary, meaning the customer could be left disappointed. Eco-Movement's projections estimate that by 2027 some 3 million chargers will be available to EV owners globally. For one, the cost sell has got harder this year as sharp rises in electricity prices have fed into the rate paid by EV motorists at roadside recharging points, making long-haul EV journeys less cost competitive than they were previously.Ĭompetition in the EV charging sector is growing. However not everything is honey and roses for this rapidly maturing industry. EV sales are already running at record highs, having seen almost two-fold sales growth last year. The funds have been set aside for Eco-Movement's global expansion strategy, bringing on more partnership deals and furthering its core EV charging data product.Īccording to the International Energy Agency around 13% of new car purchases this year will go to electric models. Also taking part are two of its existing investors: Bridford Group and Arches Capital. The round is co-led by Dow Jones, the business intelligence and news provider, and Dutch venture fund Ponooc.
#CHARGE POINT COMPETITORS SERIES#
Utrecht-based Eco–Movement has formally signed off on its series A funding round.
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