11 Best EV Charging Stocks To Invest In

5. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 17

XPeng Inc. (NYSE:XPEV) is a prominent player in China’s EV market. It has been actively improving its charging infrastructure to support the growing adoption of its vehicles. As of late July, the company operates a network of 1,300 charging stations, including 1,000 supercharging stations. The company takes a spot on our list of the best EV charging stocks to invest in.

The charging network, which features both self-operated and partner-operated stations, is designed to offer a convenient charging experience for Xpeng owners across China. By June 30, the company had established nearly 1,300 self-operated stations, including 442 ultra-fast XPENG S4 charging stations. It plans to expand this network significantly, aiming for 10,000 self-operated charging stations by 2026, with a focus on 4,500 of these being liquid-cooled ultrafast chargers.

XPeng (NYSE:XPEV) is also set to introduce its next-generation supercharger in the near future, which promises even faster charging capabilities. The new S5 liquid-cooled supercharging station, expected to roll out in the third quarter of 2024, will offer up to 800 kW of charging power.

The new technology will feature a maximum output current of 800 A and a maximum output voltage of 1,000 V, which will allow drivers to gain more than one kilometer of range with just one second of charging. The process from plugging in to starting the charge will take less than 13 seconds. Users will be able to access real-time information about these new stations through the Xpeng App and other digital channels.

For the second quarter, the company reported revenue of $1.12 billion, a 60.2% increase compared to the same period the previous year. Vehicle deliveries also saw substantial growth, with 30,207 units delivered during the quarter, up by 30.2% from the 23,205 vehicles delivered in the second quarter of 2023. Despite a non-GAAP EPS loss of $0.18, the figures are a sign of the company’s strong growth trajectory and its expanding market presence.

In Q2, 17 hedge funds had investments in XPeng (NYSE:XPEV), with positions worth $191.728 million. D E Shaw is the top investor in the company as of Q2. In the quarter, the firm increased its stake by 166% to 12.539 million shares worth $91.9 million.