ABB Ltd’s E-mobility division recently announced the launch of Terra Home charging solution at CES 2023, hosted in Las Vegas.

The new AC charging solution will be available in the market later this year. The Terra Home has a minimalistic design and options for personalized covers. It is enabled to automatically prioritize electricity from renewable sources such as solar panels.

Its interactive charging feature indicates the charging stage. The notification of the charging state is accessible in the ABB E-mobility charger app. Its secured cloud connection allows remote servicing and provides the latest firmware updates to its users.

It is expected that there will be a global demand for approximately 340-490 million chargers by 2040, which will be primarily dominated by home chargers. It is likely that out of all the home chargers installed, 82% will be EV charging installations.

Zacks Rank & Stocks to Consider

ABB currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the Industrial Products sector are:

MRC Global Inc. (MRC Quick QuoteMRC - Free Report) presently sports a Zacks Rank #1 (Strong Buy). MRC’s earnings surprise in the last four quarters was 103%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.

In the past 60 days, MRC Global’s earnings estimates have increased 16.2% for 2022. The stock has gained 22.8% in the past six months.

Xylem Inc. (XYL Quick QuoteXYL - Free Report) presently has a Zacks Rank #2 (Buy). XYL’s earnings surprise in the last four quarters was 13.3%, on average.

In the past 60 days, Xylem’s earnings estimates have increased 0.1% for 2022. The stock has gained 40.6% in the past six months.

EnerSys (ENS Quick QuoteENS - Free Report) delivered an average four-quarter earnings surprise of 2.1%. ENS presently carries a Zacks Rank of 2.

ENS’ earnings estimates have increased 0.6% for fiscal 2023 in the past 60 days. The stock has gained 22.3% in the past six months.