We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TSLA, BLNK & Other EV Charging Stocks to Watch in 2025
Read MoreHide Full Article
While 2024 might have been a year of tempered optimism for the electric vehicle (EV) market, the long-term trajectory remains firmly upward. Despite a slower growth rate compared to previous years and scaling back of production plans and product launches by legacy automakers, the shift toward sustainable transportation and e-mobility is undeniable. Central to this transition is the increasing need for EV charging infrastructure, an industry poised for exponential growth as EV adoption accelerates globally.
For investors, the EV charging space presents an opportunity, with companies like Tesla (TSLA - Free Report) , Rivian Automotive (RIVN - Free Report) , Blink Charging (BLNK - Free Report) and ChargePoint (CHPT - Free Report) standing out as key players.
Promising Prospects of EV Charging Space
Global EV adoption continues to surge. According to Gartner, there will be 85 million EVs on the road by 2025, with China and Europe driving the majority of growth. Battery electric vehicles (BEVs) are expected to make up 73% of the total EV fleet, translating to almost 62 million units by the end of 2025, up 35% from projected 2024 levels.
The EV charging market mirrors this growth trajectory. Fortune Business Insights projects the market size to leap from $22.45 billion in 2024 to a staggering $257.03 billion by 2032, at an impressive CAGR of 35.6%. In the United States alone, the number of public charging stations is set to grow from 500,000 by 2030 to 1.7 million by 2035.
As demand for EVs and charging stations grows, companies in this space are primed to benefit, making it an opportune time for investors to increase their exposure to the sector.
4 Stocks to Keep a Tab On
Tesla: Its dominance in the EV sector extends beyond its vehicles. Its Supercharger network, comprising more than 60,000 stations globally, has become a critical component of the company’s ecosystem. The introduction of the North American Charging Standard (NACS) has bolstered Tesla’s position, allowing other automakers like Ford, General Motors and Rivian to access its charging network. Tesla’s charging infrastructure is evolving into a potential revenue powerhouse. The company also offers home charging solutions like the Wall Connector, which integrates seamlessly with its vehicles, providing overnight charging convenience.
The Zacks Consensus Estimate for TSLA’s 2024 and 2025 sales and EPS implies year-over-year growth of 17.4% and 32.4%, respectively. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Rivian: It is making strides in the charging industry through its Rivian Adventure Network (RAN). Designed to support its R1T pickup and R1S SUV, as well as non-Rivian EVs, the network focuses on charging stations in remote and underserved areas. Rivian’s goal is to establish 3,500 fast chargers across 600 locations along popular highways and routes. It recently opened its first charging outpost in Joshua Tree National Park, catering to all EVs. Coupled with its Wall Charger for home use, Rivian is positioning itself as a key player in the EV charging ecosystem, with an emphasis on enhancing accessibility.
The Zacks Consensus Estimate for RIVN’s 2024 and 2025 sales and EPS implies year-over-year growth of 14.2% and 38.5%, respectively. The stock currently carries a Zacks Rank #3 (Hold).
Blink Charging: It has emerged as a major player in the EV charging market, managing over 90,000 chargers globally. The company’s strategic acquisitions, such as ECOtality’s Blink Network and SemaConnect, have significantly expanded its footprint. Its partnership with WEX, an e-commerce platform supporting 19.4 million vehicles, enhances Blink Charging’s reach in fleet electrification. Another collaboration with Create Energy aims to integrate advanced energy management solutions. These initiatives highlight Blink’s innovative approach to staying competitive and catering to a broad user base, including commercial fleets and individual EV owners.
The Zacks Consensus Estimate for BLNK’s 2024 and 2025 sales and EPS implies year-over-year growth of 28.2% and 65%, respectively. The stock currently carries a Zacks Rank #3.
ChargePoint: It boasts one of the largest networks in the industry, with more than 300,000 activated ports and access to roughly 700,000 ports through partnerships. Operating across North America and Europe, ChargePoint is a prominent player in fleet electrification and public charging solutions. To streamline operations and improve profitability, the company announced a cost-cutting plan in September that includes reducing its workforce by 15%, saving approximately $41 million annually. ChargePoint’s low-cost Level 2 charger, priced at $699, targeting fleet operators and individual users looking for affordable EV charging options, bodes well. These measures underscore ChargePoint’s focus on innovation and efficiency as it aims to achieve positive adjusted EBITDA by fiscal year 2026.
The Zacks Consensus Estimate for CHPT’s 2024 and 2025 sales and EPS implies year-over-year growth of 13.6% and 54.6%, respectively. The stock currently carries a Zacks Rank #3.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
TSLA, BLNK & Other EV Charging Stocks to Watch in 2025
While 2024 might have been a year of tempered optimism for the electric vehicle (EV) market, the long-term trajectory remains firmly upward. Despite a slower growth rate compared to previous years and scaling back of production plans and product launches by legacy automakers, the shift toward sustainable transportation and e-mobility is undeniable. Central to this transition is the increasing need for EV charging infrastructure, an industry poised for exponential growth as EV adoption accelerates globally.
For investors, the EV charging space presents an opportunity, with companies like Tesla (TSLA - Free Report) , Rivian Automotive (RIVN - Free Report) , Blink Charging (BLNK - Free Report) and ChargePoint (CHPT - Free Report) standing out as key players.
Promising Prospects of EV Charging Space
Global EV adoption continues to surge. According to Gartner, there will be 85 million EVs on the road by 2025, with China and Europe driving the majority of growth. Battery electric vehicles (BEVs) are expected to make up 73% of the total EV fleet, translating to almost 62 million units by the end of 2025, up 35% from projected 2024 levels.
The EV charging market mirrors this growth trajectory. Fortune Business Insights projects the market size to leap from $22.45 billion in 2024 to a staggering $257.03 billion by 2032, at an impressive CAGR of 35.6%. In the United States alone, the number of public charging stations is set to grow from 500,000 by 2030 to 1.7 million by 2035.
As demand for EVs and charging stations grows, companies in this space are primed to benefit, making it an opportune time for investors to increase their exposure to the sector.
4 Stocks to Keep a Tab On
Tesla: Its dominance in the EV sector extends beyond its vehicles. Its Supercharger network, comprising more than 60,000 stations globally, has become a critical component of the company’s ecosystem. The introduction of the North American Charging Standard (NACS) has bolstered Tesla’s position, allowing other automakers like Ford, General Motors and Rivian to access its charging network. Tesla’s charging infrastructure is evolving into a potential revenue powerhouse. The company also offers home charging solutions like the Wall Connector, which integrates seamlessly with its vehicles, providing overnight charging convenience.
The Zacks Consensus Estimate for TSLA’s 2024 and 2025 sales and EPS implies year-over-year growth of 17.4% and 32.4%, respectively. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Rivian: It is making strides in the charging industry through its Rivian Adventure Network (RAN). Designed to support its R1T pickup and R1S SUV, as well as non-Rivian EVs, the network focuses on charging stations in remote and underserved areas. Rivian’s goal is to establish 3,500 fast chargers across 600 locations along popular highways and routes. It recently opened its first charging outpost in Joshua Tree National Park, catering to all EVs. Coupled with its Wall Charger for home use, Rivian is positioning itself as a key player in the EV charging ecosystem, with an emphasis on enhancing accessibility.
The Zacks Consensus Estimate for RIVN’s 2024 and 2025 sales and EPS implies year-over-year growth of 14.2% and 38.5%, respectively. The stock currently carries a Zacks Rank #3 (Hold).
Blink Charging: It has emerged as a major player in the EV charging market, managing over 90,000 chargers globally. The company’s strategic acquisitions, such as ECOtality’s Blink Network and SemaConnect, have significantly expanded its footprint. Its partnership with WEX, an e-commerce platform supporting 19.4 million vehicles, enhances Blink Charging’s reach in fleet electrification. Another collaboration with Create Energy aims to integrate advanced energy management solutions. These initiatives highlight Blink’s innovative approach to staying competitive and catering to a broad user base, including commercial fleets and individual EV owners.
The Zacks Consensus Estimate for BLNK’s 2024 and 2025 sales and EPS implies year-over-year growth of 28.2% and 65%, respectively. The stock currently carries a Zacks Rank #3.
ChargePoint: It boasts one of the largest networks in the industry, with more than 300,000 activated ports and access to roughly 700,000 ports through partnerships. Operating across North America and Europe, ChargePoint is a prominent player in fleet electrification and public charging solutions. To streamline operations and improve profitability, the company announced a cost-cutting plan in September that includes reducing its workforce by 15%, saving approximately $41 million annually. ChargePoint’s low-cost Level 2 charger, priced at $699, targeting fleet operators and individual users looking for affordable EV charging options, bodes well. These measures underscore ChargePoint’s focus on innovation and efficiency as it aims to achieve positive adjusted EBITDA by fiscal year 2026.
The Zacks Consensus Estimate for CHPT’s 2024 and 2025 sales and EPS implies year-over-year growth of 13.6% and 54.6%, respectively. The stock currently carries a Zacks Rank #3.