ChargePoint, a leading provider of networked electric vehicle (EV) charging solutions, has been awarded more than $19 million through its partners to install 248 DC fast charging ports across 45 locations along California highways. These funds were approved last week by the California Energy Commission (CEC) and the California Department of Transportation as part of the state’s initial allocation from the National Electric Vehicle Infrastructure (NEVI) program.
The new ChargePoint charging stations will be strategically placed on some of California’s busiest highways, addressing existing EV-charger congestion. The expansion of DC fast charging along major routes, such as I-5, is crucial for connecting the state’s largest cities and ensuring that communities in between have access to reliable charging options.
“ChargePoint is dedicated to providing world-class solutions for every charging scenario, whether at home or on the go,” said Rick Wilmer, President and CEO of ChargePoint. “With this latest funding from California, we and our partners are continuing to open NEVI-funded fast charging locations across the U.S., ensuring that all EV drivers can easily access charging through the ChargePoint mobile app.”
ChargePoint has emerged as a leader in the EV charging sector, having received nearly $90 million in NEVI funding for around 150 sites, which will host approximately 700 fast charging ports across 21 states to date. The NEVI program is designed to enhance the availability of accessible and reliable DC fast charging solutions along U.S. highways.
The majority of the awarded sites will feature ChargePoint Express Plus charging stations, a modular DC fast charging platform capable of delivering speeds up to 500 kW. Express Plus is designed to accommodate all electric vehicle models, allowing for simultaneous charging of two vehicles from a single station. Its proprietary cooling architecture enables sustained peak charging speeds, ensuring EV drivers can charge quickly without unexpected delays.
Forward-Looking Statement
This announcement contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, concerning expected funding amounts, timelines, benefits, and the implementation of NEVI awards granted by the CEC and California Department of Transportation (CDT). These statements can be identified by terms such as “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would.” Forward-looking statements involve risks and uncertainties, including the possibility that the implementation of the NEVI awards may not occur as planned, potential delays in site development, and other factors outlined in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in ChargePoint’s Form 10-Q filed with the SEC on September 9, 2024.
This document is available on ChargePoint’s investor relations website and the SEC’s website. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those anticipated. ChargePoint does not undertake any obligation to revise or update forward-looking statements, except as required by law.
