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This question is about ChargePoint.

How does ChargePoint make money?

By Justin Parker - Feb. 20, 2023

ChargePoint makes money via sales of charging hardware, cloud service subscriptions, and maintenance services. Here is a closer look at how ChargePoint makes money:

  • Sales of charging hardware. The majority of ChargePoint's revenue comes from hardware sales. It makes these sales to three different markets:

    • Individual consumers

    • Companies

    • Government entities

ChargePoint offers these types of hardware models:

  • Level 1

  • Level 2

  • DC fast charging

These models are purchased and installed by various companies across various locations, such as gas stations, grocery stores, parking lots, and many other places.

While ChargePoint pulls in a lot of profits from purchasing its charging units, it does not profit off the revenue generated from cars using the charging stations.

This has made many businesses and government entities want to work with the company since their investment in the hardware can be offset by energy sales when consumers choose to use their charging stations.

  • Cloud service subscriptions. ChargePoint also makes money from its cloud-based service subscriptions. These are available to both fleet customers and commercial partners. Some of the features include the following:

    • The ability to set the price a customer pays to charge at the station

    • Advanced access controls

    • Waitlist functions to help drivers line up more efficiently

    • Various integrations with fleet fuel cards

    • Real-time notifications (like when a car is charged up to the max)

    • Analytics that are advanced and come in real-time to gauge performance and the overall health of a charging station

    These subscriptions earn ChargePoint a fair amount of revenue but are mostly used by the commercial and government markets.

  • Maintenance services. ChargePoint also generates revenue through maintenance services it offers through its management service ChargePoint Assure. ChargePoint Assure services include the following:

    • Proactive monitoring features

    • Fast ChargePoint response times

    • Applicable parts and electronics

    • Labor warranty

    • Expert ChargePoint customer service and advice

    • Smartphone support features

    Consumers can purchase ChargePoint Assure maintenance service plans for up to five years. Fees associated with ChargePoint Assure are paid every month.

  • How does ChargePoint make money?

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