11 Best EV Charging Stocks To Invest In

6. Li Auto Inc. (NASDAQ:LI)

Number of Hedge Fund Holders: 17

One of the best EV charging stocks to invest in, Li Auto Inc. (NASDAQ:LI) is immensely focused on expanding its charging infrastructure. As of August 31, the company has already established 748 supercharging stations, equipped with 3,506 charging stalls, covering more than 70% of China’s major economic hubs and key national highways. The network supports the company’s current fleet and sets the stage for future growth.

Its collaboration with China National Petroleum Corporation (CNPC), China’s largest oil company, marks a major advancement in its charging capabilities. The partnership will see the installation of over 2,000 charging stations and 10,000 charging columns at CNPC service stations.

By the end of 2024, the expansion is expected to increase the company’s charging network coverage to over 90% in tier-one and tier-two city centers and more than 70% along national highways.

At a stake value of $258.398 million, 17 hedge funds held positions in Li Auto (NASDAQ:LI) in the second quarter. As of June 30, Renaissance Technologies is the biggest shareholder in the company and has a position worth $129.69 million.

The company has ambitious plans to further enhance its charging infrastructure. By 2025, it aims to build more than 3,000 supercharging stations. The extensive network will cover 90% of major highway routes and key urban areas in tier-four cities and developed regions across mainland China.

To support this growth, the company plans to invest around 10 billion yuan (1 Yuan = US$0.14 as of September 9) into the new network, which will feature advanced 5C charging technology capable of providing five full charges within an hour. The expansion is crucial as the company shifts focus from extended-range electric vehicles (EREVs) to fully electric models, with new battery electric vehicles (BEVs) on the horizon.

In addition to its supercharging stations, Li Auto (NASDAQ:LI) is enhancing the charging experience at home. The company offers home charging piles for overnight charging convenience. The collaboration with CNPC will also integrate the company’s charging platforms with CNPC’s services, which will optimize the overall charging experience and support leisure and home charging needs.

The company’s efforts in building its charging infrastructure are complemented by agreements with other partners, such as PetroChina Kunlun Wanglian Electric Energy Technology Co., Ltd., to develop charging facilities along highways and in urban centers.

The company reported a strong second quarter in August, with a non-GAAP EPS of $0.20 and revenue of $4.4 billion, which grew by 10.6% from the previous year. For the third quarter, the company expects revenues between RMB 39.4 billion (US$5.4 billion) and RMB 42.2 billion (US$5.8 billion), which represents a 13.7% to 21.6% increase from the same period in 2023.