#49: ChargePoint stumbles again

ChargePoint struggles, White House/GAO NEVI fight, SparkCharge raises $30M

Author

Steve Taylor
June 07, 2025

The Business and Policy of Charging Infrastructure

The 3 big stories

  • ChargePoint revenue misses again

  • White House directs DOT to ignore GAO ruling on EV funding pause

  • SparkCharge raises $30M to scale off-grid mobile fleet charging

Plus, featured jobs and headlines.

Enjoy,

–Steve

Industry News

ChargePoint shares dropped 22% last week after the company posted underwhelming Q1 results and offered soft guidance for the next quarter.

Revenue fell to $97.6M, down 9% year-over-year and below Wall Street’s $100M target. Q2 projections also underwhelmed at $90M to $100M

The decline reflects a broader slowdown in U.S. EV sales, which grew just 7% so far in 2025, down from 46% in 2023.

Policy shifts are compounding the pressure. The likely rollback of the EV tax credit by Trump has made future demand harder to forecast.

Still, ChargePoint is looking to reposition. A new partnership with Eaton aims to integrate charging and power management solutions, suggesting a pivot toward bundled infrastructure services.

Steve’s take:

ChargePoint’s weak performance highlights a growing skepticism towards public EV charging providers.

Even with cash in the bank and a respectable burn rate, ChargePoint is still seen as a bellwether and this quarter didn’t inspire confidence.

The Eaton partnership is a smart move. As the EV market matures, we’re seeing convergence between EV charging and broader energy infrastructure. Partnerships that package charging with load management or onsite generation are likely the future.

The market is watching to see who can evolve from a hardware-first model to a more resilient platform offering. Right now, ChargePoint is still in transition.

Power and Policy

The White House’s Office of Management and Budget (OMB) has instructed the Department of Transportation (DOT) to ignore a Government Accountability Office (GAO) ruling that found the Trump administration illegally paused $5B in funding for the National Electric Vehicle Infrastructure (NEVI) program. 

OMB General Counsel Mark Paoletta labeled the GAO’s decision as “wrong and legally indefensible,” asserting that DOT’s actions complied with statutory requirements and past practices. He criticized the GAO’s report as partisan and advised federal agencies not to heed GAO opinions opposing President Trump’s agenda.

The GAO maintains that the administration violated the Impoundment Control Act by withholding congressionally appropriated funds without proper authorization. GAO spokesperson Sarah Kaczmarek defended the agency’s ruling as non-partisan and procedurally sound.

Rob’s take:

This directive from the White House to the DOT signifies yet another escalation in the balance of power fight between the Trump Administration, Congress, independent oversight bodies like the GAO and the courts. As we’ve stated in previous analysis, the Trump Administration clearly wants to test the boundaries of its authority to impound congressionally-mandated funding (like NEVI) and is happy to see this fight go all the way to the Supreme Court.

Companies involved in the EV infrastructure space should continue to closely monitor these developments, particularly as the multi-state lawsuit against the Trump Administration regarding NEVI funding (highlighted in our previous issue) continues to move forward.

Emerging Tech

SparkCharge has raised $30.5M to accelerate its mobile, off-grid EV charging solutions across North America. 

The funding includes a $15.5M Series A-1 round led by Monte’s Fam and a $15M venture loan from Horizon Technology Finance. 

Founded in 2017, SparkCharge offers Charging-as-a-Service (CaaS), enabling commercial fleets to access DC fast charging without the need for grid connections or construction delays. 

Their solutions include mobile battery chargers (80–300 kW), off-grid power hubs (180–500 kW), and turnkey infrastructure that can evolve into permanent, grid-connected systems. 

With operations already in all 50 U.S. states, SparkCharge plans to use the new capital to expand its customer base, increasee coverage in the U.S., Mexico, and Canada, and establish strategic partnerships. 

The company has delivered over 4 million kWh of energy, displacing more than 500,000 gallons of gasoline to date.

Steve’s take:

SparkCharge’s approach solves a critical bottleneck in EV fleet adoption by improving access to charging infrastructure.

By eliminating the need for grid access and construction, their mobile and off-grid solutions offer immediate deployment, making them particularly attractive to fleet operators facing regulatory pressures and tight timelines.

The company’s ability to scale from mobile units to permanent installations provides flexibility for fleets of varying sizes and needs. This positions SparkCharge as a versatile player in the EV charging landscape, capable of meeting diverse operational requirements.

As the demand for commercial EVs continues to rise, solutions like SparkCharge’s CaaS model will play an important role in facilitating the transition to electric fleets. Their recent funding round not only validates their business model but also highlights the growing investor confidence in off-grid charging solutions.

You can find more EV industry jobs here.

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⚡️Steve and Rob

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