Biden's $635M EV Charger Grants Impact Stocks Like TSLA, BLNK

Biden pushes for EV charging with $635 million grants. Stocks like Tesla, Blink Charging, and others could benefit from the investment, highlighting a pivotal moment in clean energy initiatives. Investors should consider the growth potential in this sector.

Date: 15-01-2025

AI Rating: 7

Impact on Stock Prices
This report outlines the Biden administration's increased commitment to electric vehicle (EV) infrastructure through substantial funding for EV chargers. The funding of $635 million will support numerous projects aimed at deploying a significant number of charging stations across varied regions, indicating a solid growth potential for involved companies.

Notably, Tesla (TSLA) is positioned well due to its robust Supercharger network, projected growth in sales, and earnings per share (EPS) for 2025. The Zacks Consensus Estimate indicates a growth of 17.4% in sales and 33% in EPS. The upward movement of the EPS estimate suggests positive sentiment around TSLA.

Blink Charging (BLNK)
Similar to Tesla, Blink Charging showcases potential with a projected 28% growth in sales and an impressive 65% growth in EPS for 2025. Such growth estimates highlight Blink's significant position in the EV market.

EVgo (EVGO)
EVgo's growth from $22 million in revenue in 2021 to $161 million in 2023 illustrates robust growth potential, with further projections of $250-$265 million for 2024. The consensus estimates showing 44% sales growth and 7% EPS growth in 2025 indicates ongoing financial positivity.

Beam Global (BEEM)
Beam Global also demonstrates a strong growth outlook with expectations of a 33% increase in sales and 30.5% in EPS for 2025, rendering it a beneficial option for investors in the EV charging sector.

Overall, the mentioned companies show resilience and an ability to capitalize on the growing demand for EV infrastructure, backed by government support and substantial funding. However, potential uncertainties due to the upcoming political climate may influence investor sentiment and market dynamics.

Stocks: TSLA BLNK EVGO BEEM