WBX - ChargePoint rallies after announcing it will offer connectors for Tesla's charging standard

2023-06-12 11:11:13 ET

ChargePoint Holdings ( NYSE: CHPT ) announced on Monday that it will soon offer NACS connector options for its charging solutions with cost-effective field upgrades available for chargers that are already in service. The California-based company noted its charging solutions have always been available for multiple connectors including CCS1, CHAdeMO and J1772 in North America, as well as Type 2 and CCS2 in Europe

The ChargePoint NACS connector solutions were said to be actively in R&D before recent news about the connector type, and as a result are planned to deliver ahead of the vehicles with native NACS ports announced over the past two weeks.

CHPT said it remains committed to delivering the best charging experience possible to all drivers of all makes and models of electric vehicles. Despite the recent news about multiple connectors in the EV world, ChargePoint ( CHPT ) said it has long been the norm at the company.

Earlier on Monday, Wallbox ( WBX ) announced that it is supporting Tesla's NACS electric vehicle charging standard.

Shares of ChargePoint Holdings ( CHPT ) moved up 2.52% in morning trading to $8.56 vs. the 52-week trading range of $7.82 to $19.92.

More on electric vehicle stocks:

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• ChargePoint: The Problems Are Getting Bigger
• EVgo: Paving The Way For Electric Vehicle Adoption
• Blink Charging: A Short Squeeze Is Possibly One Charge Away
• Seeking Alpha's Quant Rating for ChargePoint
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