While U.S. companies continue building electric vehicle charging infrastructure across the country, investors are seemingly losing interest in funding the questionably profitable ventures.
Though EV sales are still on the rise across the United States, 2023’s numbers still fail to meet the demand seen in 2022.
As a result, sales of EV charging company ChargePoint Holdings dipped 74% over the year, while Blink Charging and EVgo fell by 67% and 21% respectively.
“I think we’re seeing this viewed as a discretionary purchase and the CFOs of the world are being cautious with discretionary purchasing,” said ChargePoint CEO Rick Wilmer.
