ChargePoint Accelerates Fleet Electrification with New Suite of Management Applications

Rhea-AI Summary

ChargePoint announces the expansion of its fleet management product line, offering software solutions for both mixed fuel and all-electric fleets. The suite includes charging station management, vehicle telematics, and mobility services. The platform aims to lower the total cost of ownership for fleet operators and simplify fleet management.

Positive

• ChargePoint introduces new software solutions for fleet management, offering potential cost savings for fleet operators and streamlining operations. The platform includes charging station management, vehicle telematics, and mobility services. Fleet managers can automate schedules, optimize routes, gain insights by location, track metrics for ESG goals, and receive real-time alerts to maximize charging station uptime. The platform is compatible with various charging station manufacturers and electric vehicles, and can integrate with existing fleet management tools.

Negative

• None.

CAMPBELL, Calif.--(BUSINESS WIRE)-- ChargePoint (NYSE: CHPT), a leading provider of networked solutions for charging electric vehicles (EVs), today announced the expansion of its fleet management product line. A new suite of software solutions is available for both mixed fuel and all-electric fleets to streamline their operations as well as lower their total cost of ownership, easing the transition to electric mobility.

The fleet application suite is designed to simplify the management of both all-electric and mixed-fuel fleets. The platform has three core software solutions: charging station management, vehicle telematics, and mobility services such as over the road session reimbursement and roaming. These deliver end-to-end capabilities for fleet managers, help lower cost of ownership, drive higher uptime and performance, and can be implemented as a complete package or as individual solutions.

“We understand the concern fleet operators have over the investment needed to transition fleets from liquid fuel to electric, including the cost of the infrastructure needed to charge EVs,” said Michael Hughes, Chief Revenue Officer at ChargePoint. “By bringing a wide scope of fleet management applications under one platform, we are helping fleet operators identify and realize significant savings to their total cost of ownership. This software gives them better control over and visibility into their fleet operations, as well as the ability to decrease operating expenses over the ownership cycle.”

ChargePoint’s fleet software platform is designed to work with a broad array of charging station manufacturers and any electric vehicle. The platform’s comprehensive suite of features enables fleet managers to do the following:

• Automate schedules to ensure charging occurs at the lowest electricity rates
• Optimize route readiness
• Gain insights by location
• Have site-level visibility which ensures operational readiness
• Track metrics for ESG goals
• Gain real-time alerts to maximize charging station uptime
• Maximize EV fuel savings with advanced energy management tools

With open API and developer partnerships, ChargePoint’s fleet management suite can fully integrate with the tools fleet operators already use to run their operations such as 3^rd party telematics, route planning, dispatch and maintenance systems.

The suite’s native telematics capabilities are purpose-built for electric vehicles and their chargers. This enables fleet operators to access deeper performance insights which optimize battery health, vehicle state of charge, and the performance of their electric fleet. With ChargePoint, fleet managers can benefit from EV-specific features such as critical data captured by EV charging stations and vehicles, real-time visibility into vehicle location, and battery telematics that can proactively detect issues at an early stage.

For fleet operators that have over the road charging needs, the platform enables them to manage charging activities no matter where their drivers need to go — at work, on-route or at home — with seamless mobile integration. This integration can occur on the ChargePoint mobile app, or another mobile application via ChargePoint APIs. Drivers across North America and Europe have on-the-go access to more than 750,000 charging ports on the ChargePoint network and can even manage payment through integrations with fuel card providers. For take-home fleets, the platform enables reimbursement of electricity dispensed at home.

For more information on ChargePoint’s fleet management software, please visit: https://www.chargepoint.com/fleet/software.

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.

Forward Looking Statements

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 ChargePoint, EV drivers, fleet operators or charging station owners may derive from ChargePoint Cloud Platform - Fleet, including the achievement of expected or anticipated benefits for fleet operators such as streamlining operations and lowering total cost of ownership for EV fleets. 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,” “will” and “would” or similar words. These forward-looking statements involve risks, uncertainties, and assumptions, including risks and uncertainties 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 SEC on September 11, 2023, which is available on ChargePoint’s website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that ChargePoint makes with the SEC from time to time. 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.

CHPT-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025784936/en/

ChargePoint

John Paolo Canton

Vice President, Communications

JP.Canton@chargepoint.com

AJ Gosselin

Director, Corporate Communications

AJ.Gosselin@chargepoint.com

media@chargepoint.com

Patrick Hamer

Vice President, Capital Markets and Investor Relations

Patrick.Hamer@chargepoint.com

investors@chargepoint.com

Source: ChargePoint Holdings, Inc.

FAQ

What does ChargePoint's fleet management product line offer?

ChargePoint's fleet management product line offers software solutions for both mixed fuel and all-electric fleets. The suite includes charging station management, vehicle telematics, and mobility services.

What are the benefits of ChargePoint's fleet management platform?

The benefits of ChargePoint's fleet management platform include potential cost savings, simplified fleet management, automated schedules, optimized routes, insights by location, tracking of metrics for ESG goals, and real-time alerts for charging station uptime.

Is ChargePoint's fleet management platform compatible with different charging station manufacturers and electric vehicles?

Yes, ChargePoint's fleet management platform is designed to work with a broad array of charging station manufacturers and any electric vehicle.

Can ChargePoint's fleet management platform integrate with existing fleet management tools?

Yes, ChargePoint's fleet management platform can fully integrate with existing fleet management tools through open API and developer partnerships.