11 Small Cap EV Stocks to Invest In

Page 4 of 10

7. ChargePoint Holdings Inc. (NYSE:CHPT)

Market Capitalization: $504.27 Million

Number of Hedge Fund Holders: 12

ChargePoint Holdings Inc. (NYSE:CHPT) is a leading American company in the electric vehicle (EV) infrastructure sector. The company operates one of the largest networks of EV charging stations in North America and Europe. ChargePoint Holdings Inc. (NYSE:CHPT) operates with a capital-light business model, allowing it to grow alongside the increasing demand for EVs.

On December 16, ChargePoint Holdings Inc. (NYSE:CHPT) and the Colorado Energy Office announced the completion of six fast-charging corridors in Colorado. In total, 33 DC fast charging sites with over 80 charging ports are now available along highways across Colorado. This project was supported by $10 million in state funding and contributions from private and local government partners, demonstrating ChargePoint Holdings Inc.’s (NYSE:CHPT) strong community ties and commitment to enhancing EV accessibility.

Additionally, on December 18, 2024, the company announced a partnership with General Motors to install hundreds of ultra-fast charging ports across the US. This initiative aims to enhance access to charging stations and improve the overall EV driving experience, with plans for public availability by the end of 2025. Such collaborations position ChargePoint Holdings Inc. (NYSE:CHPT) as a key player in expanding EV infrastructure.

In October 2024, ChargePoint Holdings Inc. (NYSE:CHPT) introduced the CPF50, an affordable Level 2 charging solution priced at $699. This product lowers the entry barriers for fleet electrification while providing access to advanced fleet management software. Such innovations are essential for businesses looking to transition to electric fleets efficiently. Moreover, ChargePoint Holdings Inc. (NYSE:CHPT) launched the ChargePoint Essential cloud plan, which offers small businesses and multi-family housing access to its software platform at a competitive price. This plan allows station owners to earn revenue from charging fees, making it financially attractive.

CHPT is one of the best small-cap EV stocks to invest in. With its extensive and growing network and ongoing innovations, ChargePoint Holdings Inc. (NYSE:CHPT) is well-positioned for growth as demand for EV infrastructure rises.

Page 4 of 10