EV charging companies are feeling the impact of the expired federal tax credit, with a 46% expected drop in Q4 sales. ChargePoint, the largest US charging network, saw a surge in installations pre-deadline. CEO Rick Wilmer expects a temporary slowdown, but remains optimistic about future EV demand.

Despite challenges, Wilmer believes in the long-term success of EVs due to new products and decreasing costs. ChargePoint saw growth in Europe and is focusing on commercial and retail build-outs in the US. The industry is reaching a tipping point where businesses need EV charging to attract customers.

As EV adoption grows, ChargePoint shareholders are eager to see how the company will achieve profitability. Wilmer remains confident in the future of EVs, emphasizing the importance of charging infrastructure for businesses. Europe’s favorable environment and global product design position ChargePoint for success in the coming year. 1. The stock market experienced a significant drop today, with the Dow Jones Industrial Average falling over 500 points. This decline was fueled by concerns over rising inflation and interest rates, leading to investor anxiety and a sell-off in many sectors.

2. The United Nations released a report highlighting the urgent need for action on climate change. The report warns that global temperatures are on track to exceed the crucial 1.5-degree Celsius threshold, which could have catastrophic consequences for the planet.

3. A new study found that the COVID-19 vaccine is highly effective in preventing hospitalizations and deaths from the virus. The study analyzed data from over 100,000 people and concluded that the vaccine offers strong protection against severe illness.

4. In political news, President Biden announced a new infrastructure plan aimed at creating jobs and revitalizing the country’s aging infrastructure. The plan includes investments in roads, bridges, and public transportation, as well as initiatives to combat climate change and improve broadband access.

5. The FDA approved a new drug for Alzheimer’s disease, the first new treatment for the condition in nearly 20 years. The drug, called aducanumab, has shown promise in slowing the progression of the disease and could provide much-needed relief for patients and their families.

Read more at Yahoo Finance: We expect a ‘pullback’ this quarter after EV tax credit expiry