Last week, ChargePoint announced it has raised $240 million to build enough chargers to support 2.5 million electric cars worldwide.
While ChargePoint is currently the largest EV charging network, a court mandate to settle diesel emissions cheating charges has Volkswagen already building the Electrify America network to rival Tesla Superchargers.
Competitors such as EVgo are also expanding and Tesla announced this month that it will double the size of its Supercharger network in the next year.
“We are at a tipping point in the generational shift to transportation electrification,” said ChargePoint President and CEO Pasquale Romano. “Leading investors from automotive, utilities, oil and gas, and financial institutions are coming together to support ChargePoint’s vision of an all-electric future as the mass adoption of electric mobility and the transition to electric fleets accelerate.”