ChargePoint, once valued at $8B, now worth $600M due to declining EV charger demand, commoditized market, high expenses, and limited cash.
ChargePoint, once valued at over $8 billion, is now worth under $600 million, facing declining demand for EV chargers and diminishing profit margins. The shift to the North American Charging Standard has further commoditized the market, hampering pricing power. With high operating expenses and a balance sheet indicating just a year of cash left, analysts suggest the company may not survive as a standalone entity in five years, advising investors to reconsider their stakes.
October 05, 2024
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