Zacks Analyst Blog Highlights NIO, EVgo, ChargePoint, Toyota and Lucid Group


For immediate release

Chicago, IL – March 29, 2022 – announces the list of stocks featured in the analyst blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Stocks recently featured in the blog include: NIO Inc. NIO, EVgo Inc. EVGO, ChargePoint CHPT, Toyota TM and Lucid Group LCID.

Here are the highlights from Monday’s analyst blog:

EV Stock Roundup: NIO Q4 Earnings and More

The electric vehicle (EV) revolution is accelerating, with traditional automakers and pure electric mobility makers leaving no stone unturned to establish a firm foothold in this space. Amid the growing popularity of green cars, electric vehicle battery maker LG Energy Solution announced a massive investment last week. The company plans to invest $1.4 billion to build a battery factory in Arizona by 2024 to meet growing demand for electric cars. Construction will begin in the second quarter of 2022. Mass production is expected to begin in 2024, with a capacity of 11 gigawatt hours.

Meanwhile, the China-based electric vehicle maker NIO inc. and electric vehicle charging company EVgo inc. released its results for the fourth quarter of 2021. Another charging company, Charging point has signed an agreement with the Japanese automotive giant Toyota to provide a convenient charging option for the soon-to-be-launched bZ4X electric SUV. Lucid Group also made headlines by expanding its presence in Canada and partnering with Electrify Canada.

The best stories of the past week

NIO announced a fourth quarter 2021 loss per American Depositary Share (ADS) of 21 cents, higher than the loss of 16 cents a year ago amid higher operating expenses. The electric vehicle maker reported revenue of $1,553.6 million, up 49.1% year-on-year on the back of robust deliveries. NIO delivered 25,034 vehicles in the fourth quarter of 2021, including 5,683 ES8s, 12,180 ES6s and 7,171 EC6s. Total shipments jumped 44.3% year-over-year.

Cash and cash equivalents totaled $2,406.2 million as of December 31, 2021. Long-term debt was $1,528.3 million. NIO expects first quarter 2022 deliveries in the range of 25,000 to 26,000 vehicles, signaling an increase in the range of 24.6 to 29.6 percent. Revenue is expected between $1,511 million and $1,567 million, indicating a year-over-year increase of 20-25.1%.

Charging point reached an agreement with Toyota to provide accessible and convenient public and home EV charging to new owners/drivers of Toyota’s battery electric bZ4X SUVs. According to the recent agreement with Toyota, ChargePoint will provide several charging facilities to improve the convenience of bZ4X drivers. To ensure drivers can charge whenever needed, ChargePoint will provide access to more than 80% of charging stations in North America.

For home charging, customers will have the option of purchasing a ChargePoint Home Flex Level 2 charger from Toyota dealerships or directly from ChargePoint online. The charger has provisions for Wi-Fi and indoor and outdoor installations. It also supports different parking configurations and can charge electric vehicles up to nine times faster than a standard outlet.

EVgo reported revenue of $7.1 million in the fourth quarter of 2021, compared to $4.2 million in the same period a year ago. The company suffered a net loss of $46.3 million amid high cost of sales and operating expenses. Network throughput jumped 95% year-over-year to 8.2 gigawatt hours (GWh) for the quarter under discussion. Investments totaled $25.3 million for the fourth quarter of 2021.

Cash and restricted cash totaled $484.8 million as of December 31, 2021. EVgo expects 2022 revenue in the range of $48 million to $55 million. The network throughput is expected in the range of 50 to 60 GWh. EVgo expects 3,000 to 3,300 DC fast charging stations to be operational or under construction by the end of 2022.

Lucid opened its new studio in Toronto, which would serve as the second location in Canada and the 23rd in the company’s North American retail network. It plans to begin Canadian deliveries of the Lucid Air in the spring of 2022.

In a separate development, Lucid has partnered with Electrify Canada to offer two years of free charging to those who reserve a Lucid Air by June 30, 2022. With 150 kilowatt (kW) and 350 kW chargers, Electrify Canada offers one of the fastest recharges. services in the country. The alliance will allow Lucid Air owners to charge up to 350 kilometers in 15 minutes for 900+V architecture models connected to 350 kW chargers.

What’s next in space?

Stay tuned for announcements of upcoming EV models and all important updates from the boiling industry.

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Past performance is not indicative of future results. The potential for loss is inherent in any investment. This document is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether any investment is suitable for any particular investor. It should not be assumed that investments in the securities, companies, sectors or markets identified and described have been or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management of securities. These returns come from hypothetical portfolios composed of stocks with Zacks Rank = 1 that have been rebalanced monthly without transaction fees. These are not the returns of actual stock portfolios. The S&P 500 is an unmanaged index. To visit for more information on the performance figures displayed in this press release.

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Toyota Motor Corporation (TM): Free Stock Analysis Report

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