Clean Tech Weekly Highlights_ Election Playbook, EV Charging _ AAM 3Q Previews, ENVX 3Q Results & More

Summary of Key Points from the Conference Call Industry Overview - Focus on Clean Tech and EV Charging: The conference highlighted the Clean Tech sector, particularly the EV Charging industry, and its dynamics leading into the 2024 elections [3][41]. Core Insights - Election Impact on Clean Tech: The upcoming 2024 elections are expected to influence the Metals & Mining and Clean Tech sectors significantly. A potential Harris victory could maintain the status quo for green policies, while a divided Congress may challenge investor consensus [3][3]. - S&P Clean Energy Index Performance: Historically, the S&P Clean Energy Index has outperformed the S&P by 5-6% in the month following a Democratic presidential win [3][3]. - EV Charging Demand: Key focus areas for the upcoming 3Q results include EV/Charging demand, operating leverage improvements, profitability visibility, access to capital, and broader industry trends like NACS integration [3][3]. Company-Specific Highlights - Enovix (ENVX): - Reported a focus on commercial traction and product qualification, with expectations of initial volumes around 1 million cells for smartphone customers, representing a small portion of a multi-billion dollar market [9][12]. - Launched an equity offering raising $100 million, which was perceived negatively by some investors due to timing concerns [13][13]. - EVgo (EVGO): - Stock reactions are anticipated to be positive/mixed based on management's tone regarding the DOE loan and potential positive revisions to midterm guidance [3][3]. - The company retained a strong market share in fast charging, with a 5% quarter-over-quarter growth in Supercharger ports [14][14]. - ChargePoint (CHPT): - Introduced a new cloud plan aimed at making charging more accessible to small businesses, which may help improve its market position [14][14]. - Concerns exist regarding sustainable growth, which could lead to negative stock reactions depending on management's outlook [3][3]. - Advanced Air Mobility (AAM): - Companies like JOBY and ACHR are navigating significant capital and resource challenges in eVTOL aircraft certification, with a preference for JOBY due to perceived lower funding risk [9][9]. Market Trends and Data - Charging Infrastructure: As of November 1, there are 73,268 public and private charging station locations in the U.S., with a total of 212,884 EVSE ports [18][18]. - Stock Performance: - ENVX down 21%, JOBY down 8%, PLUG down 7%, EVGO down 6% over the past week [22][22]. - EVGO has shown a year-to-date performance increase of 123%, indicating strong market recovery [25][25]. Additional Considerations - Consumer Preferences: A survey indicated that Texas drivers prioritize environmental protection and cost savings when purchasing vehicles, while California drivers place a higher emphasis on environmental considerations [9][9]. - Tax Credit Risks: The 30D tax credit's future is uncertain under potential changes in administration, which could negatively impact EV demand and related charging companies [9][9]. This summary encapsulates the key points discussed in the conference call, focusing on industry trends, company-specific insights, and market data relevant to the Clean Tech and EV Charging sectors.