ChargePoint, Daimler Buses Tie Up for Telematics System Integration

ChargePoint Holdings, Inc. CHPT, an electric vehicle charging network provider, and Daimler Buses have signed a collaboration agreement to allow transportation companies with multi-brand fleets to utilize vehicle data from Mercedes-Benz and Setra buses in ChargePoint’s fleet management system without the need for extra hardware.Daimler Buses offers a variety of connectivity solutions through its Omniplus On digital services. Customers can use these services via the Omniplus On portal, integrate vehicle data into telemetry systems, or through partner applications. Currently, 15 major European telematics and depot management system providers offer a Data-as-a-Service portfolio, which allows Daimler Buses’ vehicle data to be integrated into fleet management systems for improved analysis and management. ChargePoint is now joining as a key telematics provider.The agreement provides several benefits to ChargePoint customers with Mercedes-Benz and Setra in their fleets. It eliminates the need for additional hardware installation as CHPT can utilize data from the Bus Data Center, a standard feature in all Daimler Buses. Customers need a monthly data package from Omniplus On, available for each bus, along with data authorization from the transportation company. The Bus Data Center provides real-time transmission of more than 450 data points, including all vehicle diagnostic information, and can receive commands via the mobile network, such as preconditioning the eCitaro.ChargePoint customers using Daimler Buses vehicles also benefit from high-level data security. Daimler Buses is the first bus manufacturer to comply with the new international cybersecurity directive UN ECE R155, which ensures that the data is consistently protected from unauthorized access throughout the entire connectivity chain, from the vehicle to the Daimler Buses cloud.CHPT went public in February 2021 and exceeded its revenue growth expectations in fiscal 2022 and 2023. However, in fiscal 2024, due to slower EV market growth and a challenging macro environment, it lost its momentum. Most of ChargePoint's revenues come from its chargers, sold at a loss, rather than from higher-margin subscriptions. In fiscal 2024, CHPT’s adjusted EBITDA losses increased from $217 million to $273 million. Despite challenges, ChargePoint expects its business to stabilize in the second half of fiscal 2025 by expanding subscription services, resolving inventory issues and growing its Asian manufacturing operations. It anticipates positive adjusted EBITDA in the fourth quarter of fiscal 2025.Zacks Rank & Other Key PicksCHPT currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the auto space are Dorman Products, Inc. DORM, Blue Bird Corporation BLBD and Douglas Dynamics, Inc. PLOW, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The consensus estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 30 days.The Zacks Consensus Estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.58% and 215.89%, respectively. EPS estimates for 2024 and 2025 have improved 65 cents and 80 cents, respectively, in the past 30 days.The Zacks Consensus Estimate for PLOW’s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 have improved 15 cents in the past 30 days.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Douglas Dynamics, Inc. (PLOW): Free Stock Analysis Report Dorman Products, Inc. (DORM): Free Stock Analysis Report Blue Bird Corporation (BLBD): Free Stock Analysis Report ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks