CHPT - 2 Hypergrowth EV Charging Stocks with Room to Run
2023-03-24 05:33:00 ET
The electric vehicle (EV) industry has been under intense pressure due to a combination of macroeconomic and industry-specific headwinds. Rising interest rates make it more expensive for consumers to finance car purchases, and higher EV investment by legacy automakers and new players adds competition for entrenched EV leaders.
But no matter how you slice it, the EV industry is well-positioned to grow over the next five to 10 years thanks to automotive industry buy-in, favorable government policy, and tax credits around the world.
Tesla (NASDAQ: TSLA) and ChargePoint Holdings (NYSE: CHPT) are front-runners in the EV charging industry based on their range of product offerings and existing installed capacity. Here's what makes each stock a great buy now.
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2 Hypergrowth EV Charging Stocks with Room to Run