Five Top Electric Vehicle Charging Stocks that Could Accelerate to Higher Highs
Electric vehicle charging stocks could accelerate, including Datametrex AI Limited (TSXV: DM) (OTCQB: DTMXF), Tesla Inc. (NASDAQ: TSLA), EVgo Inc. (NASDAQ: BLNK), Blink Charging Co. (NASDAQ: BLNK), and Wallbox NV (NYSE: WBX). For one, California is set to prohibit the sale of gasoline-powered calls by 2035.“The rule, issued by the California Air Resources Board, will require that 100 percent of all new cars sold in the state by 2035 be free of the fossil fuel emissions chiefly responsible for warming the planet, up from 12 percent today. It sets interim targets requiring that 35 percent of new passenger vehicles sold in the state by 2026 produce zero emissions. That would climb to 68 percent by 2030,” according to DNYUZ.com.
Two, according to Fortune Business Insights,“Governments worldwide are contributing towards setting up the charging stations. For instance, the Chinese government has approved the development of fast-charging stations by national policies. Similarly, in the United States, the government is offering all its support and funds to develop EV charging stations.” Three, the Biden Administration also just announced that it is committed to build a national network of 500,000 EV charging stations by 2030.
Look at Datametrex AI Limited (TSXV: DM) (OTCQB: DTMXF), For Example
Datametrex AI Limited announced that its wholly-owned subsidiary, Datametrex Electric Vehicle Solutions, has broadened its product portfolio and introduces a new partnership with Cyber Switching Inc., a California based EV charging technology company.
DM EVS has now added another level-2 charging technology. This will reduce charging times by up to three (3) hours, which is almost half of what most chargers take on average. Cyberswitching's level-2 charger has a range of 3.5kW/16 Amperage to 11.5kW/48 Amperage. It is a faster, more powerful charger than the traditional level-2 device.
With the introduction of the new level-2 charger, along with the integration of EVAR's smart charger, DM EVS now has the necessary technology to install and operate in any environment or conditions, this partnership allows DM EVS to have a diversified selection of fast and efficient EV chargers for installation and gives clients options of the type of charger to best fit their indoor or outdoor environment, power accessibility, or installation conditions.
“This partnership expands our product offerings with EVAR and allows DM EVS to have a more varied selection of EV chargers to install. This means we can install more EV chargers to fit different environments and spaces and provide the ultimate solution to range anxiety,” said Marshall Gunter, CEO of the Company.
Other related developments from around the markets include:
Tesla Inc. announced that the Board of Directors has approved and declared a three-for-one split of Tesla's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Each stockholder of record on August 17, 2022 will receive a dividend of two additional shares of common stock for each then-held share, to be distributed after close of trading on August 24, 2022. Trading will begin on a stock split-adjusted basis on August 25, 2022.
EVgo Inc. announced that it has entered into a new supply agreement with Delta Electronics, a global provider of power and energy management solutions and leader in EV charging solutions. Under the agreement, Delta will supply EVgo with 1,000 fast chargers with up to 350kW power output, which supports EVgo's recently announced project with General Motors (GM) and Pilot Company, as well as other EVgo eXtend and fleet projects and expansions to EVgo's owned and operated charging network.“EVgo is dedicated to making EV charging convenient and reliable for all, which makes it critical that our network is comprised of high-quality chargers backed by a track record of innovation, reliability and technology leadership,” said Cathy Zoi, CEO of EVgo.“EVgo and Delta share a reputation as industry first-movers and this collaboration will showcase our complementary strengths and expertise, while supporting EVgo's momentum and deployment targets to expand access to world-class EV charging experiences across the U.S.”
Blink Charging Co., a leading owner and operator of electric vehicle (EV) charging equipment and services, announced the election of former senior advisor to President Biden and former Congressman, Cedric Richmond, to the Blink Board of Directors by the board on August 25, 2022, adding decades of public policy knowledge and insights to the highly experienced Blink board. Richmond, a distinguished former member of the United States House of Representatives, and founder of the governmental affairs consulting firm, Richmond & Company is known for his foresight, keen political intuition, and his commonsense approach to business, policy, and government. As a result of this expertise and experience, Richmond is uniquely qualified to advise on Blink's growth and expansion strategies and will provide a valuable perspective to Blink as the company leads the charge to build upon the Biden Administration's call to deploy EV charging infrastructure across the country.
Wallbox NV, a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, announced that it has acquired COIL Inc ( a leading EV charging installation service in the U.S. that will allow Wallbox to offer key partners including Auto OEMs, Utilities and Dealerships in North America a one-stop shop for EV installation and maintenance services. The acquisition highlights Wallbox's commitment to the North American EV charging market and follows the announcement of new warehouse facilities across the US and Canada. Wallbox also anticipates production to begin in their recently announced factory in Arlington, Texas this fall.
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