Top 6 EV Charging Stocks to Watch in 2024

Written By
G. Dautovic
August 10,2023

The electric vehicle sector has undoubtedly been one of the fastest-growing industries in recent times. The forecasts suggest that it will continue to thrive in the coming years as countries around the world try to reduce carbon emissions.

There’s a record number of EV charging stations, and stocks in the industry have exploded as a result. This boom has created an exciting time for investors looking to seek out EV charging stocks, and many are hopping on the bandwagon, hoping to turn a quick buck.

But which EV charging company should you back in 2024 and beyond? This guide will help you decide.

Why Is EV Tech Thriving?

EV technology for automobiles can be traced back to the 19th century, but only in the last decade or two has a roadmap to greener driving been laid out. Sales of all-electric and hybrid vehicles have soared in recent years, and the new era is now well and truly underway.

The door to new opportunities for every EV manufacturer and EV charging company was opened by the Bipartisan Infrastructure Law, which saw $7.5 billion allocated to the development of 500,000 public electric vehicle charging stations. This has subsequently contributed to the growth of EV charging stocks across the industry.

In addition to the domestic improvements, there has been significant progress to the infrastructure and accessibility of EV cars in several nations in other parts of the world. The UK, the Netherlands, and Norway are just three examples of thriving markets. Stocks linked to the EV charging network, batteries, and EV accessories will naturally benefit just as much as vehicle manufacturers.

With forecasts stating that roughly 20% of all new cars sold globally will be all-electric by 2025, the boom in popularity and investment opportunities won’t fade anytime soon.

Best EV Charging Stocks To Monitor in 2024

Whether you have made the switch to an all-electric car or not, it’s not hard to see the impact of widespread EV adoption, especially from an investor’s perspective. The EV charger industry has a projected CAGR rate of 26.8% by 2027,  while the current tax incentives and rebates encourage drivers and companies to go green. EV charging stocks are thriving, too.

Nonetheless, not all companies in this sector are set to perform the same way. As with any investment opportunity, doing some research is vital. Here are six of the best EV stocks to maximize your profits from the thriving charger industry:

Rivian Automotive, Inc.

There is a lot to like about the Californian EV manufacturer of fast chargers. Firstly, the company primarily dabbles in producing electric pickup trucks and SUVs, which underlines the organization’s understanding of the industry and EV charging network from every angle. 

Secondly, the company was valued at over $100 billion at its debut in November, making it one of the biggest IPOs of 2021 and getting many to ponder a car loan just to get on the hype train. When you also consider that Amazon backs the company, there is every reason to assume that it will deliver on its promise to install 3,500 fast chargers and 10,000 level 2s by 2023. It is likely to be followed by further developments and growth in the years to come.

The company’s EV charging stocks and shares have already increased since its November debut, and its anticipated central role in EV infrastructure should encourage further growth over the years to come.

Riven Automotive, Inc can be found on NASDAQ as ‘RIVN.’ 

SunPower Corporation

EV technology is primarily focused on reducing the carbon footprint, which is why it goes hand in hand with cleaner energy sources. SunPower Corporation is a Californian EV company that utilizes the power of solar energy.

The company is partnered with Wallbox N.V. and only started its deployment of charging stations in July of 2021. Yet, it already boasts over 30 hedge fund owners while its revenue is growing steadily, supported further by the impressive performance of energy vehicle station stocks. From January 2018 to 2022, the EV station stock prices have gone from $5.99 to over $20, topping out at $52 for a very brief time in 2021.

Can the company’s stocks soar to that level again? Possibly. With thousands of stations still awaiting installation, many investors consider it an excellent prospect for future investments.

SunPower Corporation’s NASDAQ code is ‘SPWR.’


Given that it boasts the nation’s largest EV charging network, which comprises over 30,000 stations, ChargePoint is one of the most reputable names in the sector, making it an obvious choice for new electric vehicle (EV) charging station company stock traders.

The company also boasts over 100,000 charging stations in other countries, while ChargePoint Home Flex is a major player in the home EV charging sector. ChargePoint is also partnered with Sunnova Energy International. As one of the most experienced names in the field, a bright future looks assured for ChargePoint, which should translate to positive ROIs.

Like many firms in the sector, ChargePoint has seen share prices fall due to the global pandemic. Still, with recent world events skyrocketing gas prices, investors are speculating another boom for the EV industry.

ChargePoint's code on NASDAQ is ‘CHPT.’

Blink Charging Co. is an American provider of level 2 charging stations. The company's existing EV charging network also includes home and business solutions in 13 countries. In total, it has over 30,000 stations worldwide, which is an impressive amount by any measure.

The MQ200, HQ200, 50kW Wall DC Fast, and Vision IQ 200 models are all high-performing units that are sure to play a key role in the industry’s domestic and international growth. 

Despite the progress, the company’s stocks have actually fallen over the past 12 months. However, its EV adoption rates will give it a solid chance of bouncing back, which could make this the perfect moment for savvy investors to strike.

These days, the firm is installing units more than three times faster than it was only a few years back, and EVs are looking to bounce back with recent gas price hikes. Therefore, investors looking to buy EV charging station shares can expect exciting things in the future.

Blink Charging Co. can be located on NASDAQ with the ‘BLNK’ symbol.

Tesla, Inc

It is impossible to consider the EV marketplace without considering the elephant in the room - Tesla. Aside from dominating news columns, the company enjoyed a fantastic 2021, particularly in Q2 and Q3. The growth had as much to do with the increase of electric car sales in Europe and China as with the expansion of its EV charging stations globally.

Elon Musk’s company is at the forefront of growing developments within the EV sector and is likely to maintain its place as a key player in the industry as its market share and sales continue to increase. The company installed 288 new superchargers in Q3 of 2021 as part of a major system overhaul. Given the company’s global and domestic market share, it’s hard to see how it will be toppled by the competitors any time soon. 

While the stock prices already reflect the company’s presence within the industry, most will agree that there is still room for investors to benefit from the continued growth of the EV charger market throughout 2022 and beyond.

Tesla can be found on NASDAQ with the ‘TSLA’ symbol.

Volta, Inc

Volta, Inc is another company that challenges our expectations on EV technology and EV charging companies as a whole. Its EV charging stations are accompanied by the sale of advertising space to businesses via digital ad screens. It has got people talking, but novelty isn't the only reason to back Volta in 2022. 

The company’s hedge fund stakes account for funding of almost $100m, while it has also delivered over 100 million electric miles to drivers. While its EV stations are the secondary feature of its business model, the company continues to add stations throughout America. Its presence will be far greater by the end of 2022, which could translate to fantastic returns for investors.

Volta stocks have been far higher than they currently are, which presents a fascinating opportunity for investors. Its past successes, coupled with recent developments, hint at a revival in stock value, which could see current investments pay off greatly in a year or two.

Volta’s NASDAQ symbol is ‘VLTA.’


The electric vehicle industry as a whole has never looked better, and the EV charging infrastructure is one of the key components. As such, the EV charging stocks present some of the most exciting opportunities in any investment sector. While all of the solutions mentioned above look set to outperform the other competitors on the market, it’s likely that others will also emerge.

A conscious shift towards EV tech has already started, but good investment opportunities haven’t dried up yet.


What are the best EV charging station stocks?


As with all investments, a wide range of factors will determine which EV stock is best for you. Knowing whether you plan to short, hold, or trade frequently is essential. Well-known names like Tesla and ChargePoint offer a great starting point for investors, but other options on our list are solid investment opportunities, too.

Who is the biggest manufacturer of EV charging stations?


ChargePoint has over 30,000 EV charging stations in the U.S. and a further 100,000+ worldwide. Shell, Tesla, and ABB are three other big names in the EV charging industry.

What company builds EV charging stations?


The EV charging station industry is growing rapidly, and there are dozens of manufacturers building solutions to get on board. Tesla is undoubtedly the most well-known brand, but check out the other companies on our list above - all of them manufacture charging stations for electric vehicles.

What stocks will rise with electric cars?


As the road to a carbon-neutral society moves at speed, a range of related stocks is expected to perform well. Besides EV manufacturers like Tesla, there are many startups that haven’t even started the production of EVs yet. However, it’s the EV charging network that may be the greatest beneficiary of our impending green revolution. Accessibility to charging stations will be crucial for the industry's continued growth. Increased demand means more EV charging stations, so stocks should thrive in the next few years.

About author

I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.

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