ChargePoint has a staggeringly high attach rate with new plug-in vehicle buyers, and it’s accelerating

BMW i3 Charging Station (Charged EVs)

ChargePoint is the latest entrant into the crowded residential charging station market. The ChargePoint Home was announced in January, and later this year when it goes on sales, it will begin vying for a spot on garage walls up against multinational conglomerates and long-established EVSE companies like ABB, AeroVironment, Bosch, ClipperCreek, Eaton, GE, Leviton, Lite-On, Schneider Electric, Siemens and others.

The sheer number of companies taking the market seriously at this early stage points to its huge potential.

ChargePoint, however, may already have an edge as it enters the residential race: Most plug-in vehicle drivers already have an active ChargePoint account.

With over 20,000 charging spots in North America, the company has a staggeringly high attach rate for new plug-in vehicle drivers. Somewhere between 70 and 80 percent of all new buyers sign up for an account. And ChargePoint says that its huge market share continues to grow, both in terms of new driver attach rates and existing drivers that sign up down the road.

“I think that’s because stations are starting to show up in new places,” CEO Pasquale Romano told Charged. “If you bought an EV but had no ChargePoint public charging in the area, you’d have no reason to have an account. But now people that already have a plug-in car are starting to get ChargePoint accounts because the infrastructure is becoming more pervasively deployed.”

With a clear stronghold in the public realm, ChargePoint plans to pitch its users on the simplicity of one system at home and away. “We want to leverage the fact that everything ChargePoint makes is connected,” said Romano. “So, you’ll get all of your charging reports in one place so you see how much energy you use at home and how much you use when you’re not home. You’ll see it all on one convenient dashboard, and one mobile app on your phone. These network services are free and included with the product. We’re not going to charge you a monthly fee. Just buy the product and it’s connected.” 

 

  • Collin Burnell

    I have to admit. I am waiting to see the ChargePoint Home unit before buying an EVSE. I am finally having the 50 Amp NEMA 14-50 line put in tomorrow.

    • Zephyr

      Always a good start for maximum flexibility. Teslas can charge direct from it, and with the right adapter, any EVSE can connect too. Just don’t try pulling more than 40A continuous… 🙂