ChargePoinChargePoint’s New Essential Cloud Plan Makes EV Charging Accessible to Small Businesses and Multifamily Housing

ChargePoint Essential Cloud Plan Enables Small Businesses to Offer Enterprise Levels of Service

Campbell, Calif., October 30, 2024 - ChargePoint (NYSE: CHPT), a leading provider of networked charging solutions for electric vehicles (EVs), today announced an easier way to offer EV charging. Named the ChargePoint Essential cloud plan, it represents an alternative to a traditional cloud subscription. The ChargePoint Essential cloud plan offers a competitively priced software fee that is covered by driver payments for charging. All revenue beyond this fee is remitted back to the station owner monthly, and activation of the stations is included under the Essentials plan at no extra charge.

With the ChargePoint Essential cloud plan, currently available with the company's lowest-cost level 2 charging solution, the CPF50, customers may reap the benefits of ChargePoint's leading software platform while eliminating the need for software subscriptions or renewals. Ideal applications for the ChargePoint Essential cloud plan are scenarios where the chargers are available to the public, but on a restricted basis. These can include multifamily housing, hotels, the hospitality industry, and workplaces. The ChargePoint Essential cloud can eliminate ongoing subscription fees by using charging revenue to cover the cost of the cloud plan. This effectively provides a financing mechanism for those who wish to offer charging, with any surplus revenue paid out to the station owner after covering monthly costs.

"ChargePoint wants small businesses to offer EV charging as seamlessly and easily as possible," said Rick Wilmer, CEO of ChargePoint. "Innovative new offerings like ChargePoint's Essential cloud plan lower the barrier to entry by shouldering ongoing costs and deploying the $699 CPF50 charger to minimize upfront investment. The plan is an excellent way to offer charging without sacrificing quality or the ability to scale."

The ChargePoint Essential cloud plan is the perfect solution for condominiums, apartment buildings, and similar multifamily housing complexes which have historically struggled to offer charging for residents. The ChargePoint Essential cloud plan enables access for residents or guests, direct payment for the energy and associated costs, and consolidated billing so management is not burdened. Multiple residents can share a single charger while still paying individually, and ongoing costs are covered by the session fees at a rate set by management. The CPF50 offers site hosts a flexible charging solution available in single or dual-port configurations. Additionally, with the ChargePoint Essential cloud plan's power sharing capabilities, site hosts can add incremental stations without overloading the location's electrical service. This keeps installation costs affordable and minimizes the need for initial investment.

To learn more about the ChargePoint Essential cloud plan, please visit https://www.chargepoint.com/businesses/software. To learn more about the ChargePoint CPF50, please visit https://www.chargepoint.com/businesses/stations/cpf50. To get started with the ChargePoint Essential cloud plan and CPF50, please visit https://www.chargepoint.com/why-chargepoint.

ChargePoint and the ChargePoint logo are trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.

About ChargePoint Holdings, Inc.

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.