Eaton and ChargePoint Establish Industry-First EV Charging Partnership

ChargePoint Holdings, Inc. (NYSE:CHPT) is among the 12 Best EV Charging Stocks to Buy According to Hedge Funds. ChargePoint Holdings, Inc. (NYSE:CHPT) and Eaton have established a strategic partnership to accelerate the development of electric vehicle charging infrastructure in the United States, Canada, and Europe.

Eaton and ChargePoint Establish Industry-First EV Charging Partnership

A close up of an Electric Vehicle charging station, emphasizing the innovative technology.

The collaboration will provide turnkey EV charging solutions that incorporate chargers, electrical infrastructure, and technical services to facilitate electrification in the public transportation, workplace, fleet, and residential sectors.

This partnership is the first of its kind in the industry and will speed up vehicle-to-everything (V2X) innovation, such as bidirectional power flow, which will make it possible for EVs to power buildings and houses. According to ChargePoint Holdings, Inc. (NYSE:CHPT) CEO Rick Wilmer, the collaboration addresses major challenges to electric transportation and strengthens the company’s position as a provider of the entire EV ecosystem.

Eaton, a reputable power management leader, contributes extensive knowledge of the energy transition. The collaboration will streamline infrastructure design, lower costs, improve site power, and ensure dependability. ChargePoint Holdings, Inc. (NYSE:CHPT)’s cloud platform will oversee infrastructure and EV integration, promoting decarbonization on a large scale. It is ranked eighth on our list of the Best EV Stocks.

While we acknowledge the risk and potential of CHPT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CHPT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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