ChargePoint Holdings, Inc. (NYSE:CHPT) shares traded nearly flat on Thursday after the company outlined trends expected to drive EV charging growth.
The firm said it is focused on all market segments and types of electric vehicles, aiming to maintain its leadership in charging innovation by developing products for the future ecosystem.
Rick Wilmer, CEO of ChargePoint, noted that while the charging industry often focuses on current issues, it rarely addresses future developments, emphasizing that innovations once viewed as futuristic are on the verge of becoming reality.
The company is also rolling out innovations like "Plug and Charge," allowing drivers to start charging without authentication or additional devices, which addresses previous interoperability issues.
Also Read: ChargePoint Secures Over $19M To Expand DC Fast Charging Ports Across California Highways
Software is becoming a central component of EV charging solutions, offering real-time visibility, AI-driven reliability, and maximizing charging efficiency, all contributing to a "software defined charging" ecosystem.
In terms of hardware, the cost of chargers is declining while new features for connected charging systems are being developed.
DC charging will facilitate vehicle-to-home (V2H) capabilities, and public charging will prioritize affordability with standardized speed ranges.
Automakers are increasingly investing in second-generation EVs that tackle previous barriers to adoption.
Bidirectional energy capabilities and advancements in battery technology are set to improve cost, weight, and charging speeds. Overall, "ChargePoint is at the forefront of this evolution and will release new products and features to drive the future of charging in real time," the company said.
According to Benzinga Pro, CHPT stock has lost over 72% in the past year.
Price Action: CHPT shares are trading lower by 0.44% to $1.344 at last check Thursday.
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