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Toyota (TM), ChargePoint Team Up for Multi-Pronged EV Charging
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Toyota Motor (TM - Free Report) recently stated that it will collaborate with ChargePoint, Inc. (CHPT - Free Report) , a leading EV charging network, to deliver home and public electric vehicle (EV) charging solutions to its customers. The partnership comes just before the launch of Toyota’s all-new 2023 bZ4X battery-electric sport utility vehicle (SUV) later this year.
For home charging, customers will have the option to purchase a ChargePoint Home Flex Level 2 charger from Toyota dealerships or directly from ChargePoint online. The charger has provisions for Wi-Fi and indoor as well as outdoor installations. It also supports different parking configurations and can charge EVs up to nine times faster than a standard outlet.
For installation, Qmerit has been selected to guide bZ4X customers through the process of locating a certified EV charger installer. Qmerit is enthusiastic about serving customers with its residential installation services to bZ4X customers.
ChargePoint also offers a broad public network of Level 2 and Level 3 (DC fast) chargers, including roaming partner stations, across North America. The extensive pool of charging stations allows bZ4X drivers to access more than 80% of charging spots in North America, providing them the flexibility of charging. ChargePoint public charging APIs will become hassle-free as Toyota offers easy access to bZ4X drivers to quickly find, use and pay for vehicle charging via the Toyota App.
The home charger promises to fit into customers’ charging needs and thus enable them to enhance their ownership experience of the bZ4X. The Toyota bZ4X model will be an amalgamation of Toyota's market reputation for quality and reliability without compromising on the performance and practicality that is desirable in a modern battery-electric SUV. The model is also a step toward carbon neutrality.
Toyota’s expanding portfolio of product lines and a robust lineup of trucks and SUVs bode well for long-term growth. To capitalize on the accelerated global shift to electric cars, the auto giant is deepening its focus on manufacturing electric and fuel-cell vehicles, which will bolster its product competitiveness.
Shares of Toyota have rallied 14.7% against its industry’s 4.9% decline.
Harley-Davidson has an expected earnings growth rate of 1.9% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 21.7% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.59%, on average. The stock has rallied 19.2% over the past year.
Tesla has an expected earnings growth rate of 41.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 10.3% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.26%, on average. The stock has risen 57.7% over the past year.
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Toyota (TM), ChargePoint Team Up for Multi-Pronged EV Charging
Toyota Motor (TM - Free Report) recently stated that it will collaborate with ChargePoint, Inc. (CHPT - Free Report) , a leading EV charging network, to deliver home and public electric vehicle (EV) charging solutions to its customers. The partnership comes just before the launch of Toyota’s all-new 2023 bZ4X battery-electric sport utility vehicle (SUV) later this year.
For home charging, customers will have the option to purchase a ChargePoint Home Flex Level 2 charger from Toyota dealerships or directly from ChargePoint online. The charger has provisions for Wi-Fi and indoor as well as outdoor installations. It also supports different parking configurations and can charge EVs up to nine times faster than a standard outlet.
For installation, Qmerit has been selected to guide bZ4X customers through the process of locating a certified EV charger installer. Qmerit is enthusiastic about serving customers with its residential installation services to bZ4X customers.
ChargePoint also offers a broad public network of Level 2 and Level 3 (DC fast) chargers, including roaming partner stations, across North America. The extensive pool of charging stations allows bZ4X drivers to access more than 80% of charging spots in North America, providing them the flexibility of charging. ChargePoint public charging APIs will become hassle-free as Toyota offers easy access to bZ4X drivers to quickly find, use and pay for vehicle charging via the Toyota App.
The home charger promises to fit into customers’ charging needs and thus enable them to enhance their ownership experience of the bZ4X. The Toyota bZ4X model will be an amalgamation of Toyota's market reputation for quality and reliability without compromising on the performance and practicality that is desirable in a modern battery-electric SUV. The model is also a step toward carbon neutrality.
Toyota’s expanding portfolio of product lines and a robust lineup of trucks and SUVs bode well for long-term growth. To capitalize on the accelerated global shift to electric cars, the auto giant is deepening its focus on manufacturing electric and fuel-cell vehicles, which will bolster its product competitiveness.
Shares of Toyota have rallied 14.7% against its industry’s 4.9% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, TM has a Zacks Rank #3 (Hold).
Better-ranked players in the auto space include Harley-Davidson (HOG - Free Report) and Tesla (TSLA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Harley-Davidson has an expected earnings growth rate of 1.9% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised around 21.7% upward in the past 60 days.
Harley-Davison’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. HOG pulled off a trailing four-quarter earnings surprise of 77.59%, on average. The stock has rallied 19.2% over the past year.
Tesla has an expected earnings growth rate of 41.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 10.3% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.26%, on average. The stock has risen 57.7% over the past year.