What's Going On With ChargePoint Shares Premarket On Thursday?

ChargePoint Holdings CHPT on Thursday unveiled a major upgrade in AC Level 2 charging technology.

The next-gen architecture introduces bidirectional charging and delivers charging speeds up to twice as fast as current AC Level 2 chargers.

ChargePoint’s new AC Level 2 architecture offers faster charging of up to 19.2 KW in North America and 22 KW in Europe, vehicle-to-everything capability, and dynamic load balancing.

The platform will support commercial, residential, and fleet use cases across North America and Europe.

It will meet key regulatory standards, including MID and Eichrecht in Europe and ENERGY STAR in the U.S. Initial models will launch in Europe this summer, followed by North America at the end of 2025.

It supports smart home integration, series wiring for multiple EVs without costly upgrades, and universal compatibility via the ChargePoint Omni Port.

The new AC Level 2 charging architecture builds on ChargePoint's nearly 20 years of leadership in EV charging, during which it has captured an estimated 61% share of the U.S. public AC Level 2 market, according to Alternative Fuels Data Center data.

Hossein Kazemi, chief technical officer of hardware at ChargePoint said, “The architecture underpinning them enables highly anticipated technologies which will deliver a significantly better experience for station owners and the EV drivers who charge with them.”

Last month, ChargePoint introduced five ultra-fast charging stations in upstate New York, located in Cortland, Waterloo, Lake Placid, Niagara Falls, and Ripley.

Investors can gain exposure to the stock via WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund WBAT.

Price Action: CHPT shares are down 2.53% at $0.5814 at the last check Thursday.

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