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Biden's Last Push for EV Chargers Before Trump Era: 4 Stocks to Watch
BEEMBeam (BEEM) ZACKS·2025-01-14 15:06

Core Insights - The Biden administration is intensifying efforts to establish a clean energy legacy, announcing 635millioningrantsforelectricvehicle(EV)chargers,leavingonly635 million in grants for electric vehicle (EV) chargers, leaving only 700,000 of the 2.5billionallocatedunderthe2021BipartisanInfrastructureLaw[1][2]−Thegrantswillsupport49projectsacross27states,aimingtodeployover11,500EVchargingportsandalternativefuelinfrastructure[2]−Thelong−termdemandforEVchargingstationsisprojectedtoremainstrong,withtheglobalEVchargingmarketexpectedtogrowfrom2.5 billion allocated under the 2021 Bipartisan Infrastructure Law [1][2] - The grants will support 49 projects across 27 states, aiming to deploy over 11,500 EV charging ports and alternative fuel infrastructure [2] - The long-term demand for EV charging stations is projected to remain strong, with the global EV charging market expected to grow from 22.45 billion in 2024 to 257.03billionby2032,reflectingacompoundannualgrowthrateof35.6257.03 billion by 2032, reflecting a compound annual growth rate of 35.6% [6] Industry Overview - The U.S. currently has nearly 70,000 public EV charging stations and over 197,000 charging ports, with a target to build 500,000 publicly available EV chargers by 2030 [4] - The potential return of Donald Trump to office could disrupt current EV initiatives due to his unfavorable stance on EVs [5] Company Highlights - **Tesla (TSLA)**: Holds a significant position in the EV sector with over 60,000 Supercharger stations globally. The company is expected to see year-over-year growth of 17.4% in sales and 33% in EPS by 2025 [8][9] - **Blink Charging (BLNK)**: Manages over 90,000 chargers globally and has made strategic acquisitions to expand its footprint. The company is projected to achieve year-over-year growth of 28% in sales and 65% in EPS by 2025 [10][11] - **EVgo (EVGO)**: Operates over 1,000 fast-charging stations and has seen revenue growth from 22 million in 2021 to $161 million in 2023. The company is expected to grow sales by 44% and EPS by 7% by 2025 [12][13] - Beam Global (BEEM): Focuses on sustainable products for EV charging and has launched innovative products to enhance its market position. The company is projected to achieve year-over-year growth of 33% in sales and 30.5% in EPS by 2025 [14][15]