The Best EV Charging Companies to Invest in Summer 2024

 Electric vehicles are the future, but we desperately need more charging stations. As we wait for this infrastructure to be built, now may be the time to consider investing in some of the best EV charging stocks.

Unfortunately, the lack of charging stations has been a real turn-off for many EV owners. In fact, a recent McKinsey report found that 46% of EV owners said they’re likely to switch back to gas-powered vehicles because of the lack of charging infrastructure. “Range anxiety and access to charging infrastructure have long been considered big barriers to electric-vehicle adoption, but the revelation that these same issues may drive current battery-powered car owners back into gas-powered cars is a new blow for the already rocky EV transition,” added Business Insider.

 While the Biden Administration has pledged $7.5 billion for charging infrastructure and plans to add 500,000 EV charging stations by 2030, the progress has been slow. Only seven new charging stations have been set up so far. That’s not a typo. “As I typically said with EV charging articles, if the U.S. wants 50% of all cars sold in the U.S. to be electric, we have to get serious about charging infrastructure,” said Ian Cooper, a contributor to “All of which could boost EV sales, reverse range anxiety and positively charge some of the best EV charging stocks.”

 EVgo (EVGO)

One of the top EV charging stocks to consider is EVgo (NASDAQ:EVGO). When Cooper mentioned EVgo on June 21, the company’s CEO Badar Khan bought 125,000 shares at an average price of $2.05 for about $251,250. Analysts at Benchmark also gave it a “buy” rating with a $3 price target. 

“At $1.98, I’d buy and hold EVGO for the long haul. If and when the U.S. gets far more serious about EVs and EV charging stations, EVGO could see significant upside,” Cooper previously said. From that $1.98 price tag, EVGO is now up to $2.58 and could see further upside.

 The stock is also getting a boost from the news that it’s opening a new fast-charging station in North Carolina with Regency Centers Corporation. To date, the two companies have opened more than 120 public fast-charging stalls at about 40 Regency properties in 10 states. Newer openings will happen in Maryland, Massachusetts and Texas over the next year, all of which should help boost shares of EVGO even higher.

 Blink Charging (BLNK)

Another top EV charging stock to watch is Blink Charging (NASDAQ:BLNK). Cooper previously mentioned Blink Charging on June 21, when it traded at $2.65. Today, up a whopping $0.09 to $2.74, it’s still oversold but still a strong buy on weakness.

For one, Blink still holds its “in process” designation from the Federal Risk and Authorization Management Program for EV charging solutions. If Blink can achieve full accreditation from the agency, other government agencies can contract Blink for EV charging. That could potentially happen by the third quarter.

Two, earnings have been solid. In its most recent quarter, its EPS loss of $0.13 beat by $0.07. Revenue of $37.57 million, up 73% year over year, beat by $2.96 million. It also says it’ll achieve positive adjusted EBITDA by the end of this year.

Cooper would like to see BLNK rally back to $3.70 a share from its last traded price of $2.74.

 ChargePoint (CHPT)

Another of the best EV charging stocks is ChargePoint (NYSE:CHPT), which is just starting to pivot from double-bottom support. A buy at its current price of $1.51, Cooper would like to see CHPT initially rally back to $2.40.

Helping, CHPT just announced its software will be used in LG Electronics’ EV charging hardware. Even better, CHPT partnered with Porsche Cars North America (PCNA), allowing PCNA to access the ChargePoint network. That should also increase the number of chargers available to Porsche customers to 100,000 across the U.S.

 Earnings have also been okay. Its EPS loss of $0.17 beat by $0.02. Revenue of $107.04 million, while down 17.7% year over year, beat by $1.4 million. Unfortunately, revenue guidance of $108 million to $118 million, compared to estimates of $122 million, wasn’t a hit with investors.

 Cooper would use weakness as a long-term buying opportunity with CHPT. Near-term, he’d again like to see it test $2.40. If the U.S. gets serious about charging stations in the long term, he’d like to see it above $10 a share.

 Dunamis Charge (Privately Held)

Dunamis Charge is a lesser-known but promising EV charging company. The company has developed innovative fast-charging technology that has helped the company report uptime ratios higher than 97%.  Dunamis Charge has also been forming strategic partnerships with major automakers and is expected to play a significant role in the expansion of the EV charging network in the coming years.

Dunamis Charge’s charging solutions are designed to address the key pain points of EV owners, such as long charging times and limited charging infrastructure. The company’s technology has attracted the attention of several leading automakers, and it is poised to benefit from the growing demand for fast and reliable EV charging solutions.

 Although you can’t purchase Dunamis Charge stock in the open market, you can invest in their Regulation Crowdfunding campaign by visiting  The bond pays 10% a year with huge upside should it convert. As the transition to electric vehicles continues, these four EV charging companies could be worth considering for investors looking to capitalize on this trend. While the progress in building out the charging infrastructure has been slow, the long-term outlook for these companies remains positive as the need for charging stations continues to grow.