ChargePoint delivered excellent results against 10 key categories, including: product quality, implementation excellence, technology leverage and growth strategy excellence
ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging network, has been named as the winner in Best Practices Market Leadership Award in the European electric vehicle (EV) charging market in a new independent report conducted by Frost & Sullivan.
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ChargePoint has been named European Electric Vehicle Charging Market Leader by industry leading analyst Frost & Sullivan (Graphic: Business Wire)
Frost & Sullivan’s Market Leadership Award recognizes that ChargePoint has achieved the greatest market share resulting from outstanding performance, products, and services. Frost & Sullivan’s analysts tracked over 18 leading operators in Europe to determine the Market Leadership Award, independently evaluating a wide range of criteria, including growth strategy, technology leverage, product quality, value, implementation, and customer experience through the electrification process.
The report recognizes that ChargePoint offers a robust portfolio of hardware, software, and support services catering to commercial, fleet, and residential EV customers. This has led to a network with more than 163,000 charging points in operation, 45,000 of which are in Europe, with an additional 290,000 places to charge available through open roaming agreements on its network. According to Frost & Sullivan’s Innovation Generator™ data intelligence platform, ChargePoint has strategic coverage of charging points in residential areas, inner-city roads, highways, and public places, providing quality charging solutions wherever site hosts offer EV charging.
ChargePoint is also proud to highlight that three billion electric miles have been driven on the network and drivers have avoided more than 131 million gallons of gas, preventing over 529,000 metric tons of greenhouse gas (GHG) emissions.
“We are honored to receive this award. It is recognition of the key milestones ChargePoint has hit in the past year that demonstrate our commitment to the European EV charging market and complement our position as a leader in EV charging in North America. We are extremely proud of the team we have built in Europe, and what they have managed to achieve in such a short time,” said Pasquale Romano, CEO and President of ChargePoint. “It is because of them that we have been able to grow from market entry to one of the largest charging networks in Europe and a leader within commercial and fleet charging.”
ChargePoint’s impressive growth strategy in Europe, strategic partnerships, as well as ChargePoint’s recent acquisitions of ViriCiti, a leading provider of electrification solutions for eBus and commercial fleets, and e-mobility technology provider has·to·be, highlight the company as a continued and growing leader in the industry.
ChargePoint continues to create job opportunities and has more than doubled its talent over the past year in Europe. ChargePoint also has state-of-the-art research and development facilities in Radstadt, Austria and Reading, England for testing and evaluation of ChargePoint’s EV charging products.
Frost & Sullivan recognizes how ChargePoint’s successful growth strategy cements its position as a market leader and will continue to strengthen its brand and presence in the EV charging space.
From concept to scale, ChargePoint’s solution portfolio includes everything needed to electrify and optimise fueling, regardless of the size, use or type of vehicle. ChargePoint’s significant software capabilities and range of AC and DC fast charging solutions balance charging costs with operational readiness, making ChargePoint a key partner in the efficient and rapid electrification of transportation.
“Driving innovation and growth is a difficult task made even harder by the strategic imperatives forcing change today, such as disruptive technologies, value chain compression, industry convergence, and new business models,” stated Prajyot Sathe, Research Manager of Frost & Sullivan.
Sathe continues, “ChargePoint has established itself in the EV charging market for the past 14 years and provided more than three billion electric miles through its network. Frost & Sullivan is impressed with how ChargePoint has capitalized on its vast experience and expertise to outperform the competition and lead the market.”
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 105 million charging sessions have been delivered, with drivers plugging into the ChargePoint network approximately every two seconds. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.
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This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our commitment to the European EV charging market, our leadership position in the EV industry, and our growth plans. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: developments and changes in the general market; the continuing impact of COVID-19, including in our business and those of our customers and suppliers; political, economic, and business conditions; our limited operating history as a public company; our ability as an organization to successfully integrate ViriCiti and has·to·be and acquire and integrate other companies, products or technologies in a successful manner; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on December 15, 2021, which is available on our website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
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