Toyota Partners with ChargePoint for EV Charging

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Toyota Partners with ChargePoint for EV Charging
Credit: © Reuters.

By Sam Boughedda -- ChargePoint Holdings (NYSE: CHPT ), an electric vehicle charging company, announced a new partnership with Toyota Motor Corporation (NYSE: TM ) on Tuesday. 

Toyota shares rose 0.6% on Tuesday, while ChargePoint rose 1.6%.

The agreement opens up more electric vehicle charging units for drivers of Toyota's new battery-electric bZ4X SUV, providing access to more than 80% of charging spots in North America. 

Drivers will also have the option to purchase a ChargePoint Home Flex (NASDAQ: FLEX ) Level 2 charger through Toyota dealerships or ChargePoint online. According to Toyota, this allows drivers to charge their cars up to 9 times faster than a standard outlet.

"As esteemed automotive brands like Toyota continue to electrify transportation with new models of cars, trucks, SUVs, and fleet vehicles, ChargePoint continues to enable EV charging wherever drivers live, work, and play," said Pasquale Romano, president, and CEO of ChargePoint. 

The launch of the Toyota 2023 bZ4X battery-electric SUV is expected later this year.



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