ChargePoint Holdings Inc
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Industrials : Electrical Equipment | Small Cap Blend
Company profile

ChargePoint Holdings, Inc. is an electric vehicle (EV) charging technology solutions provider and is creating a fueling network. The Company provides networked charging solutions in North America and Europe for all segments, such as commercial (retail, workplace, parking, recreation, education, and highway fast charging), fleet (delivery, logistics, motor pool, transit, and shared mobility) and residential (homes, apartments, and condominiums). ChargePoint has activated approximately 174,000 ports on its network, including approximately 11,500 DC ports, excluding single family home ports. It is a provider that sells networked charging hardware, cloud-based software services, and extended parts and labor warranty solutions to customers to enable electrification. ChargePoint’s networked charging solution types of EVs include cars, trucks, delivery vehicles, buses, yard tractors, and 18-wheelers. The ChargePoint ChargePoint-as-a-Service (CPaaS) program combines the customer's.

Postmarket

Last Trade
Delayed
$15.73
0.27 (1.75%)
Bid
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Ask
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B/A Size
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Market Hours

Closing Price
$15.46
Day's Change
-0.09 (-0.58%)
Bid
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Ask
--
B/A Size
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Day's High
15.83
Day's Low
15.03
Volume
(Heavy Day)
Volume:
13,551,378

10-day average volume:
10,866,276
13,551,378

ChargePoint(R) and Gatik partner to develop an electric ecosystem for autonomous electric medium-duty trucks

5:00 am ET March 28, 2022 (BusinessWire) Print

ChargePoint (NYSE: CHPT), a leading electric vehicle (EV) charging network, and Gatik today announced a strategic partnership to develop an electric ecosystem for autonomous vehicles designed to maximize sustainability, operational efficiency and economics for ChargePoint and Gatik's customers across North America. Through the partnership, infrastructure and integrated services will play a significant role in helping to decarbonize the B2B short-haul logistics sector and will offer a simple and seamless solution to help Gatik and ChargePoint's customers meet their corporate sustainability goals.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220327005130/en/

"Our partnership with Gatik will help more fleets to realize their e-mobility and decarbonization goals," said Rich Mohr, Vice President, Fleet at ChargePoint. "ChargePoint has proven experience across multiple customer applications and use cases. Together, ChargePoint and Gatik will provide industry-leading infrastructure and technologies for forward-thinking fleets."

"Gatik's autonomous electric fleet is uniquely positioned to increase efficiency and reliability across the supply chain's middle mile, and drive sustainability across critical operational metrics for our customers," said Arjun Narang, Co-founder and CTO at Gatik. "Our partnership with ChargePoint will ensure that we're not only meeting intensifying demand for our product offering and service, but offering our customers access to national charging infrastructure and a wealth of technical advantages to support them in meeting their corporate sustainability goals."

Customers transporting goods in Gatik's autonomous electric fleet will have access to ChargePoint's expertise in site design, interoperability validation, and lower investment costs. Gatik will also have access to a nationwide charging network and fleet-specific software that provides telematics intelligence configurable to each customer's operations, as well as modular charging hardware to minimize upfront costs by reducing required electrical capacity. This strategic electric ecosystem collaboration for the middle mile will play a key role in the electrified logistics sector.

Powered by ChargePoint's scalable and reliable charging technology, Gatik launched its first autonomous electric box trucks with Walmart in 2021, a groundbreaking solution offering hyper-efficient goods movement, significant emissions reductions and impactful savings on fuel and powertrain maintenance costs. As the retail, E-commerce and logistics sectors look to decrease their carbon footprints, demand for Gatik's product offering among national retail and E-Commerce giants has soared, leading to rapid expansion of ChargePoint's infrastructure at Gatik's vehicle depots and customer locations across existing and emerging markets.

With consumer expectations for real-time access to goods increasing faster than the most confident predictions, there has been an influx of freight-moving vehicles added to North America's roads. This has made sustainability both a collective challenge and a collective responsibility for leaders in the logistics industry to contend with. Gatik's partnership with ChargePoint ensures customers have access to Gatik's class 3-6 autonomous electric fleet and ChargePoint's charging infrastructure and integrated services to support a cleaner, more efficient and sustainable logistics sector.

About Gatik

Gatik, the leader in autonomous middle mile logistics, delivers goods safely and efficiently using its fleet of light and medium duty trucks. The company focuses on short-haul, B2B logistics for Fortune 500 retailers and in 2021 launched the world's first fully driverless commercial delivery service with Walmart. Gatik's Class 3-6 autonomous box trucks are commercially deployed in multiple markets including Texas, Arkansas, Louisiana and Ontario. Gatik has raised a total of $114.5 million and is backed by Koch Disruptive Technologies, Innovation Endeavors, Wittington Ventures and others, and partnered with industry leaders including Ryder, Goodyear and Isuzu. Founded in 2017 by veterans of the autonomous technology industry, the company has offices in Mountain View and Toronto. Gatik was recognized on the 2021 Forbes AI 50 list and as a World Economic Forum Technology Pioneer.

About ChargePoint

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. 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 every two seconds or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint's North American European press offices or Investor Relations.

CHPT-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20220327005130/en/

SOURCE: ChargePoint

Jennifer Bowcock VP, Communications
408-768-8221
Jennifer.Bowcock@chargepoint.com 
media@chargepoint.com

Patrick Hamer, VP, Capital Markets and Investor Relations
610-914-5190
Patrick.hamer@chargepoint.com 
investors@chargepoint.com

Richard Steiner, Gatik
650-282-3076
richard@gatik.ai

Susan Donahue, Skyya for Gatik
646-454-9378
Susan.Donahue@skyya.com
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