Happy Nice Mall

Startups, automakers, and other companies have been slowly making chargers for years, especially in California and other coastal states where most electric cars are sold. These businesses use different strategies to make money, and auto experts say it’s not clear which one will be successful. ChargePoint, the company with the most stations, sells chargers to individuals, businesses, shops, apartments and apartments, businesses with a fleet of electric vehicles. Collects subscription fees for software that manages chargers. Tesla offers charging mainly to get people to buy their cars. And others make money by selling electricity to drivers.

The charging industry, once the poor cousin of making sleek electric cars, has plunged into its own gold rush. According to PitchBook, venture capital firms poured $1 billion into charging companies last year, more than the previous five years combined. So far in 2021, venture capital investments have exceeded $550 million.

According to Dealogic, a research firm, publicly traded special purpose buyouts, or SPACs, have signed deals to acquire eight charging companies out of 26 deals involving electric vehicle and related businesses. Deals often involve an infusion of hundreds of millions of dollars from big investors like BlackRock.

“It’s early and people are trying to understand what potential looks like,” said Gabe Daoud Jr., chief executive and analyst at Cowen, an investment bank.

These businesses could benefit from the infrastructure bill, but it’s unclear how the Biden administration will distribute the money for the charging stations.

Another unanswered question is who will be the Exxon Mobil of the electric car era. It could be automakers.

by Tesla, about two-thirds of electric cars It produced thousands of chargers sold in the United States, which it made free for its first customers. The company’s CEO, Elon Musk, said it could open its network to vehicles made by other automakers by the end of the year. said in July.