Among the picks and shovels in the electric-vehicle boom are charging points. They seem to be more reliable bets than the startup car brands looking to take on
but investors still need to decide whether they prefer picks, shovels or something altogether new.
A number of companies that offer EV charging infrastructure have gone public in recent months via the now-familiar route of a merger with a special-purpose acquisition company, or SPAC. The first mover was ChargePoint, whose deal closed in February, followed by EVgo, EVBox and Volta Industries, which have yet to complete theirs. There is also
which held a conventional initial public offering in 2018.
The basic rationale for investing in such companies is that charging services are needed to support the expected growth of EVs. While this…