Is ChargePoint Holdings Stock a Buy?
There has been a lot of interest in electric-vehicle (EV) charging stocks lately. Given the strong growth in EVs, the interest in charging-infrastructure companies is logical. President Joe Biden has set an ambitious target: Half of all new vehicle sales in 2030 will be electric. The bipartisan infrastructure bill provides for a $7.5 billion investment in EV charging infrastructure over five years.
There are currently more than 45,000 EV charging stations with more than 111,000 charging ports in the U.S. Still, the country lags China and Europe in terms of EVs and charging infrastructure. In all, the backdrop looks just perfect for the growth of the country's EV charging infrastructure in the coming years. The key question is, will this growth translate into profits for ChargePoint Holdings (NYSE: CHPT)? Let's discuss that next.
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Source Fool.com
