Companies That Will Directly Benefit From The EV Revolution

There are a few companies that aren't EV manufacturers, but they'll benefit from EV growth around the world.These companies are Worksport Ltd WKSP, SunPower SPWR, ChargePoint Holdings CHPT, and NextEra Energy NEE.

Worksport – Powering EVs With Solar Energy

The innovative tonneau cover manufacturer and designer whose ground-breaking technology is being configured for two upcoming electric pickups has been invited to present at the Benzinga Global Small-Cap Conference that will take place on May 13^th and 14^th, 2021. The company just signed a lease agreement for its new Canadian manufacturing facility which will be a major milestone in its growth story. This move will fuelWorksport to establish its Canadian manufacturing footprint and explore new opportunities to reach new heights. With its revolutionary solar fusion TerraVis that will be enhanced even further, a bright future seems ahead.

SunPower- Offering The Complete Energy Solution

As different as they may seem at first glance, rooftop solar and electric vehicles serve a similar customer base. What SunPower is doing is trying to leverage its position in the energy industry to become a full energy services company and therefore, tap into EV charging. Storage allows the company to control when a home or an EV is taking power from the grid, when power is being supplied by solar panels, as well as when energy is stored or discharged. Therefore, this system will allow a homeowner to choose to "fuel" their EV with only homemade solar electricity or even use their electric vehicle as an additional battery for backup power.

ChargePoint Holdings– Expanding The Infrastructure

Increasing EV sales need to be followed by an expanded charging infrastructure. ChargePoint has a comprehensive network that includes more than 2,000 publicly available fast-charging stations. With over 70% market share, it is the North American leader in Level 2 charging networks. It expects sales of its charging ports to grow by seven times through 2026, as it increases in footprint in both the U.S. and Europewhich is even more ahead in the EV race. It reported sales of $146 million in its fiscal 2021, which ended January 31^st. The need for a greater EV charging infrastructure is undebatable, and ChargePoint is well-positioned a supplier.

NextEra Energy- Supplying The Energy Grid With Clean Energy

NextEra is ready to support the EV push. It is North America's largest producer of wind and solar energy and therefore, it is able to supply clean energy. It might be the only utility company that is investing in renewables, but it is among those who are doing it heavily. The company's renewable division finished last year with around 23.9 gigawatts of generation capacity, with plenty of new projects in the works. NextEra has grown to become the largest U.S.-based utility by market cap and given the spending patterns of its competitors, it is showing no signs of losing its lead over its peers.

Wider EV adoption could change a lot of the energy industry and these companies seem to be equipped to catch the EV wave.

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