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ChargePoint Launches Comprehensive Home Charging Solution for European Company Car Fleets

1. ChargePoint launched the Flex Plus charger for home EV charging in Europe. 2. The charger supports dynamic load management to optimize charging speeds. 3. Driver Management Solution automates reimbursement for home charging expenses. 4. Flex Plus facilitates fleet management with quick installation and portability. 5. The product addresses current challenges in the home charging market.

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FAQ

Why Bullish?

The introduction of the Flex Plus enhances ChargePoint’s product offerings, likely boosting sales. Historical product launches at ChargePoint have often correlated with positive stock movements because they underline innovation and market adaptability.

How important is it?

The launch of a new product directly targets the growing EV market and addresses key customer needs. This positions ChargePoint favorably to capitalize on industry shifts towards electric vehicles, impacting investor sentiment positively.

Why Short Term?

The immediate availability of the Flex Plus will drive short-term sales and potential customer interest. Similar past product launches have resulted in heightened market focus and stock interest in the short run.

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CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint (NYSE: CHPT), a leading provider of EV charging solutions, today announced the new Flex Plus charger. The Flex Plus will be sold in Europe to address the challenge of home charging for company cars, which represent 60% of new car sales in the region. ChargePoint’s Driver Management Solution pairs with the charger to seamlessly reimburse employees for home energy usage, enable public charging for drivers on the road, and provide visibility into the charging activity of an entire fleet.​ The Flex Plus is the first charger to be built on ChargePoint’s new AC charging architecture, which features innovative technologies such as real-time dynamic load management. This feature automatically accelerates charging speeds when power is not needed elsewhere in the building, enabling the fastest charging possible without incurring the cost of upgrading electrical service into the home. The charger’s smart home compatibility allows it to integrate with solar power, batteries and other components of home energy management systems. The Flex Plus debuts an innovative new backplate mounting system which enables drivers to take their charger with them when moving houses. For fleet managers, this allows a previously fixed asset to become portable, thereby lowering costs and assuring continuity as the charger simply pops onto a pre-wired backplate in the new location. “Fleet managers and company car drivers require a seamless experience to fully embrace their electric vehicles,” said Hossein Kazemi, CTO for hardware at ChargePoint. “The new Flex Plus charger pairs with ChargePoint’s Driver Management Solution to automatically reimburse company car drivers for home charging, making it easy for drivers and fleet managers to go electric.” ChargePoint’s Flex Plus and Driver Management Solution solves a key issue for fleet managers, accurately automating reimbursement for home charging, thanks to the charger’s built-in meter and connectivity. The software extends beyond this to manage the critical aspects of home and public charging, from installation to consolidated VAT invoicing for international fleets. Fleet managers can onboard new drivers, easily manage driver groups, assign charging rules for specific segments, and utilize a centralized dashboard to manage fleet-wide activity. For a company car driver, the benefits of the solution are numerous. Flex Plus can be installed quickly, professionally and conveniently at home thanks to ChargePoint’s installation partners. From there, the need to stop and fuel during the workday is traded for the convenience of plugging in at home overnight. When a driver does need to charge on the road, the Driver Management Solution enables them to find, use, and pay for their charging via an app that can be white-labeled, or in some cases right from the in-dash experience of their vehicle. The ChargePoint Flex Plus is now available for order as part of the Driver Management Solution, with deliveries beginning later this summer. For more information, please visit https://www.chargepoint.com/en-gb/businesses/residential-charging. ChargePoint and the ChargePoint logo are trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. About ChargePoint Holdings, Inc. ChargePoint has established itself as the leader in electric vehicle (EV) charging innovation since its inception in 2007, long before EVs became widely available. The company provides comprehensive solutions tailored to the entire EV ecosystem, from the grid to the dashboard of the vehicle. The company serves EV drivers, charging station owners, vehicle manufacturers, and similar types of stakeholders. With a commitment to accessibility and reliability, ChargePoint’s extensive portfolio of software, hardware, and services ensures a seamless charging experience for drivers across North America and Europe. ChargePoint empowers every driver in need of charging access, connecting them to over 1.25 million charging ports worldwide. ChargePoint has facilitated the powering of more than 16 billion electric miles, underscoring its dedication to reducing greenhouse gas emissions and electrifying the future of transportation. For further information, please visit the ChargePoint pressroom or the ChargePoint Investor Relations site. For media inquiries, contact the ChargePoint press office. CHPT-IR More News From ChargePoint Holdings, Inc.

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