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ChargePoint and Mercedes-Benz enhance driver experience with fast charging network in North America
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
ChargePoint Holdings (NYSE: CHPT), in collaboration with Mercedes-Benz and MN8 Energy, plans to develop over 400 DC fast charging hubs across the U.S. and Canada, featuring more than 2,500 ChargePoint ports. This initiative aims to enhance the charging experience for EV drivers, starting this year, with hubs located in key cities and along major highways. The charging stations will use ChargePoint's Express Plus platform, delivering up to 500kW per port, and provide benefits like automatic authentication for Mercedes-Benz customers. The project is expected to catalyze a new retail economy centered on EV charging.
Positive
Development of over 400 charging hubs with 2,500+ fast charging ports.
Partnership with Mercedes-Benz and MN8 Energy enhances market reach.
ChargePoint Express Plus can deliver up to 500kW per port, accommodating future EV growth.
Negative
None.
ChargePoint Express Plus platform delivers the speed that drivers expect and the flexibility that businesses want in a high-powered charging solution
LAS VEGAS & CAMPBELL, Calif.--(BUSINESS WIRE)--
ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging provider, Mercedes-Benz and MN8 Energy, one of the largest U.S. solar, stationary power and renewable energy providers, today announced plans to rapidly expand the availability of DC fast charging with the development of over 400 charging hubs across the U.S. and Canada. Powered by the ChargePoint network, the Mercedes-Benz charging hubs will be in key cities and urban population centers, along major highway corridors and close to convenient retail and service destinations.
ChargePoint, Mercedes-Benz, and MN8 Energy to rapidly expand the availability of DC fast charging with the development of over 400 charging hubs, powered by the ChargePoint network, across the U.S. and Canada. (Photo: Business Wire)
Starting this year, ChargePoint, Mercedes-Benz, and MN8 will develop more than 400 charging hubs across North America with more than 2,500 ChargePoint DC fast charging ports that will enable a premium, sustainable and reliable charging experience for EV drivers. MN8 and Mercedes-Benz will jointly finance and operate the charging hubs, powered by ChargePoint’s industry leading charging hardware and software solutions.
“Automotive leaders like Mercedes-Benz continue to lead the transition to electric mobility by bringing new EVs to market, and ChargePoint remains committed to enabling the simplicity that drivers expect and the charging speed they need for all vehicles whenever and wherever drivers want,” said Pasquale Romano, CEO, ChargePoint. “With this partnership, we are expanding upon our existing relationships with Mercedes-Benz and MN8 to deliver a seamless charging experience for drivers, and turnkey charging solutions at no upfront cost to site hosts. We believe the expansion of charging hubs like these will enable the emergence of a new 30 minute retail economy, at the intersection of innovation and accessibility that combines charging and commerce, giving drivers a superior experience to charge quickly and easily.”
Available to all EV drivers, the Mercedes-Benz charging hubs will offer Mercedes-Benz drivers additional benefits including preferential access via reservation, as well as the convenience of automatic authentication functionality like “Plug & Charge” [1], enabling seamless and secure communications between the vehicle and the charging infrastructure. While authentication via card, app or head unit will be possible, it’s not required for Mercedes-Benz customers using the Mercedes me Charge[2] service.
“Mercedes-Benz customers deserve a compelling charging experience that makes electric vehicle ownership and long-distance travel effortless and that’s why we are launching a global high-end charging network that will offer a charging experience to match the extraordinary Mercedes driving experience. We are excited to start right here in North America with two strong and experienced partners, ChargePoint and MN8 Energy,“ said Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG.
The Mercedes-Benz hubs will primarily be powered by ChargePoint Express Plus, one of the most advanced high power DC fast charge platforms built for businesses looking to scale their EV charging operations for the long term. Express Plus is the ideal platform for fueling and convenience, retail and highway corridor charging locations. The system can deliver up to 500kW per port, depending on the configuration, and is designed to easily scale to meet future demand as EV adoption and vehicle capability grows. With its modular design and liquid-cooled cables, Express Plus can efficiently charge today’s and tomorrow’s electric vehicles.
About ChargePoint
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 in North America and Europe 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. To date, more than 133 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. 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 press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding the expected benefits to EV drivers of the partnership among ChargePoint, Mercedez-Benz and MN8 Energy and the timing and scope of the implementation of the proposed charging hubs. Any statements that are not of historical fact may be forward-looking statements. Words used such as “anticipates,” “believes,” “continues,” “designed,” “estimates,” “expects,” “goal,” “intends,” “likely,” “may,” “ongoing,” “plans,” “projects,” “pursuing,” “seeks,” “should,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. All forward-looking statements are based on ChargePoint’s current assumptions, expectations and beliefs, and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these risks and uncertainties are included in the filings by ChargePoint Holdings, Inc., with the U.S. Securities and Exchange Commission. ChargePoint makes these statements as of the date of this press release, and ChargePoint undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
ChargePoint and the ChargePoint logo are registered trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. “Mercedes me” and “Mercedes me Charge” are trademarks of Mercedes-Benz Group AG or its affiliates.
CHPT-IR
[1] Plug & Charge is available with EQS, EQS SUV, EQE, EQE SUV, current plug-in hybrids C- and S-Class and GLC with optional direct-current charging system (DC charging). The customer needs to activate the Plug & Charge service in the overview of services
[2] In order to use the Mercedes me connect service Mercedes me Charge, a personal Mercedes me ID and agreement to the Mercedes me connect Terms of Use are required. Furthermore, a charging contract is required.
