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That sector is undergoing rapid consolidation, with at least 85 companies being acquired since 2017.
Many charging companies are being gobbled up by big energy companies such as Shell (LON:SHEL), Statkraft, EDF (EPA:EDF), BP (NYSE:BP), Total and Engie; hardware companies such as ABB (ST:ABB) and Schneider Electric (EPA:SCHN), and other charging companies, including Blink, ChargePoint (NYSE:CHPT) and Charge Enterprises.
A number of large-cap corporations, notably BP, Shell, ABB, Siemens and SK, also have invested heavily in EV charging startups, as have automakers Volkswagen (ETR:VOWG_p), BMW (ETR:BMWG), Mercedes-Benz (OTC:MBGAF), Hyundai (OTC:HYMTF) and Geely’s Volvo (OTC:VLVLY) Cars.
The VW Group’s investment portfolio in the sector includes Electrify America, Ionity, Hubject, has.to.be, Go To-U, ChargeSmith, EcoG and PowerShare.
Large asset managers BlackRock (NYSE:BLK), Fidelity and Wellington Management also have stakes in several charging companies. BlackRock is backing EVgo, Ionity, Jolt Charge, Freewire and Volta Charging.
