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The charging market is likely to be very large, but a lack of growth and a tight focus don't bode well for ChargePoint.
Auto giants and, increasingly, competitors Ford (F 0.02%) and Tesla (TSLA 0.01%) surprised us with a deal that will give Ford EV owners access to Tesla's Supercharger network next year. Is this bullish for ChargePoint (CHPT +0.01%)? It points toward an accelerated need for charging stations and services and indicates legacy automakers don't want to build them. In this video, Motley Fool contributors Jason Hall and Tyler Crowe explain why this deal doesn't look bullish for ChargePoint and why it could struggle to grow profitably.
*Stock prices used were from the afternoon of June 1, 2023. The video was published on June 7, 2023.
*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.