Sumary of Better Buy: Plug Power vs. ChargePoint:
- With the rising number of battery electric vehicles on the roads worldwide, batteries seem to have outpaced hydrogen fuel cells as the preferred choice for automakers..
- Yet, hydrogen fuel cells offer a few advantages over batteries, and can potentially be far more useful in some areas such as marine, heavy-duty vehicles, and certain stationary applications..
- More than 90% of the company’s revenue right now comes from its materials handling segment, which provides fuel cells for use in forklifts..
- The company is focusing on expanding into the electric vehicles market and has formed partnerships with automaker Renault and Korea’s SK Group to this end..
- Finally, with battery electric vehicles leading the growth in the low-carbon environment-friendly vehicles segment, the prospects for ChargePoint seem better than those for Plug Power…