ChargePoint Leads Fights Against Industry-Wide EV Charger Cable Theft with Anti-Vandalism Solutions

CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint (NYSE: CHPT), a leading provider of networked charging solutions for electric vehicles (EVs), today announced two innovative new solutions to combat charger vandalism, featuring a new cut-resistant charging cable and ChargePoint® Protect, an alarm system designed to increase charging station security. First, ChargePoint announces the charging industry’s first cut-resistant charging cable, specifically designed to deter cable theft. ChargePoint leveraged its more than fifteen-year history of product innovation and charger design expertise to address the critical, industry-wide customer satisfaction issues related to charging cable theft and vandalism. ChargePoint’s cut-resistant charging cables deter theft and vandalism due to novel cut-resistant materials built into the cable, designed to make the cable substantially more difficult for would-be vandals to cut while remaining flexible and easy for drivers to comfortably maneuver while in use. ChargePoint intends to make its cut-resistant cables available for all of its commercial and fleet charging stations as well as to selectively license the cable design to other charging station manufacturers as part of an industry leading effort to combat cable theft and vandalism. ChargePoint believes the customers and partners that elect to use its cut-resistant cable design can make any charging station more resistant to tampering and therefore more dependable for all EV drivers. ChargePoint expects its cut-resistant cables to be available for license by the middle of 2025. In addition, ChargePoint also announces the launch of ChargePoint Protect, a charger alarm system aimed at further increasing charging station security. ChargePoint Protect integrates a ChargePoint charger’s existing speakers, screens and lighting system to create a highly effective alarm system. ChargePoint Protect is capable of detecting charging cable tampering in real time and automatically engaging the alarm system with the aim of deterring vandals. ChargePoint Protect can be activated on select charging station models at no additional cost to existing ChargePoint customers through a cloud-based software system upgrade. ChargePoint Protect permits ChargePoint customers to receive SMS or email notifications in the event the system’s alarm is triggered, accelerating the timing for the station owners to be alerted or the deployment of law enforcement responses. ChargePoint expects ChargePoint Protect to be available beginning this month. “ChargePoint Protect and our cut-resistant cables demonstrate our relentless dedication to offering a dependable charging network. We do not view ourselves as victims of vandalism, but rather responsible for solving it, not only for our customers but for the industry,” said Rick Wilmer, CEO of ChargePoint. “We are sharing the technology to combat vandalism in the most aggressive way possible with the aim to eliminate charger reliability as a hinderance to EV adoption.” ChargePoint expects these two new solutions, when combined, will benefit charging station owners by reducing station repair costs associated with vandalism and EV drivers by ensuring they can trust charging stations to work when and where they need them. For more information about the new products, please visit: www.chargepoint.com. To inquire about licensing the cut-resistant cable technology, please contact: techlicensing@chargepoint.com. 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. Forward Looking Statement This release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, the expected benefits, effects and reduction in charging station vandalism associated with the use of ChargePoint’s cut-resistant cables and ChargePoint Protect. Forward-looking statements include statements regarding ChargePoint’s expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” “proposed,” “will” and “would” or similar words. These forward-looking statements involve risks, uncertainties, and assumptions, including risks associated with the effectiveness, usefulness and customer adoption of ChargePoint’s anti-vandalism technologies. Additional risks and uncertainties are included in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in ChargePoint’s Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on December 6, 2024, which is available on ChargePoint’s website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Forward-looking statements are not guarantees of future performance and actual results could differ materially from those expressed or implied by the statements made herein. All forward-looking statements in this press release are based on information available as of the date hereof and ChargePoint assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. About ChargePoint Holdings, Inc. 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. The ChargePoint 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. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations. CHPT-IR

ChargePoint Leads Fights Against Industry-Wide EV Charger Cable Theft with Anti-Vandalism Solutions

FAQ

Why Bullish?

How important is it?

Why Long Term?

Related Companies

Related News