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Stock impact report

Subsidies Broke Public EV Charging; $100M In New Ones Won't Fix It [Forbes]

ChargePoint Holdings, Inc. (CHPT) 
Company Research Source: Forbes
An August report from J.D. Power reported about 20% of non-Tesla charging sessions fail in some way, with a number of 4% for Tesla. The funds will go to service around 6,000 charging stations marked at “temporarily unavailable.” Yesterday, I reported on a long road trip in Utah and Nevada far from pubic charging, including reports of several failed charging sessions or broken CCS stations. While the Tesla experience is generally highly dependable, the same is not true for cars with only CCS charging. The federal subsidy program reflects several elements of “gasoline thinking” and does not account for the reason all these stations are broken in the first place. Many of these broken stations were put in with subsidies, and almost all of them were put in without a significant business reason. Very few of them are a viable business. When a station is not put in for a business reason, and it's not bringing in earnings like a business, it is unfortunately a natural consequence that th Show less Read more
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