Analysis: F TSLA CHPT

We conclude our look at several of our holdings' earnings with this EV-related deal.

Ford Teams Up With Tesla 

EV Transition: Action Alerts PLUS holding Ford Motor (F) struck a deal with Tesla (TSLA) to gain access for its customers to more than 12K Tesla Superchargers across the US and Canada. The arrangement, which will double the number of fast-chargers available to Ford electric vehicle customers, kicks off in spring 2024. 

We see this as a positive but curious relationship for Ford as it looks to prove its chops in the EV space. What members should not read into this relationship is that it's bad news for ChargePoint (CHPT) given the overall need for EV charging stations.

The latest view from McKinsey & Co. puts that need at 1.2 million public and 28 million private EV charging stations, roughly 20 times more than are currently in the US.

Data like that, as well as other positive EV developments across passenger cars, trucks, buses, and other vehicles, keeps us long-term bullish on CHPT shares, especially as the spigot for infrastructure funds opens further.

If you're underweight CHPT shares, the current share price is a solid place to pick them up.