Amid multiple signs that the electric-vehicle revolution in the U.S. is accelerating and at a time when the governments in America are going to unleash billions of dollars of funds for EV charging stations, now is a very good time to buy EV charging stocks.

U.S. EV sales jumped 60% year over year in the first half of 2022, while Ford’s (NYSE:F) EV sales exploded 307% year and year in August and Tesla’s (NASDAQ:TSLA) U.S. sales jumped 105% YOY last month.

Explaining why he had decided to purchase Tesla (NASDAQ:TSLA) stock after being bearish on it for years, veteran investment manager Brad Gerstner said on Sept. 15,  “The world is moving now wholesale, both for geopolitical realities and for energy realities, in the direction of electrification.”

Eventually, EV charging stations will generate more profits than gasoline stations. As a result, a few EV charging stocks can indeed jump tenfold in the next eight years.

Finally, in a sign that funds will soon start to flow to EV charging companies, the Biden administration recently appointed veteran transportation administrator Gabe Klein to supervise the deployment of the funds.

ChargePoint (CHPT)

ChargePoint (NYSE:CHPT) reportedly owns “the nation’s largest charging network with more than 68,000 charging spots, with 1,500 of them being Level 3 DC Fast Charging units.” As a result, the company is poised to be one of the great EV charging stocks to buy now. It will generate the most revenue and become the most widely known brand in the EV charging sector.

On Sept. 7, Credit Suisse issued a bullish note on ChargePoint, saying that the company “benefits from a capital-light growth model, first-mover advantage with integrated solutions, and an attractive valuation.”

Additionally, the firm believes that the company will benefit from provisions of the recently passed climate bill (also known as the Inflation Reduction Act) that provide tax credits for “EV infrastructure.”

Finally, on Aug. 31, Oppenheimer wrote that the company reported good Q2 results, and the firm believes that the firm’s revenue increases could surpass expectations going forward, partly due to the relatively “limited” competition in the EV charging space. The firm maintained a $40 price target and an “outperform” rating on the shares.

EVgo (EVGO)

EVgo (NASDAQ:EVGO) reportedly has “more than 1,200 DC fast chargers in 34 states,” putting it fairly close to ChargePoint, which has 1,500 fast chargers in the U.S., in that area.

EVgo has established an alliance with General Motors (NYSE:GM) that should be lucrative for EVgo.

In June, EVgo and GM “announced the availability of Plug and Charge for all GM EVs with DC fast-charging capability on the EVgo network.”

The companies further explained that “Plug and Charge enables EVgo GM customers to start a fast-charging session in seconds without the need to open a mobile app or swipe” any cards.

GM is making a comeback in the U.S. EV market, as the automaker delivered more than 7,300 EVs in the second quarter in the U.S. In Q4 of last year, GM delivered just 26 EVs, and it unloaded just 457 EVs in Q1.

Pre-orders for two upcoming EVs from GM —the Cadillac Lyriq and the Hummer — sold out quickly. GM has received roughly 90,000 reservations for the Hummer.

As GM’s EV sales soar, EVgo’s financial results and EV stock should jump accordingly.

Proterra (PTRA)

Proterra (NASDAQ:PTRA) specializes in selling electric buses, but the company also has a vibrant EV charging business. When it comes to chargers,  PTRA is focusing on selling chargers to the customers that buy its buses.

For example, CEO Gareth Joyce in August reported that Proterra had sold “megawatt scale chargers” to Canada’s BC Transit, to whom the company had delivered ten electric buses.

Last quarter, Proterra sold “3 megawatts of DC fast charging solutions down just 300 kilowatts from 3.3 megawatts in Q1 2022 and compared to 4.6 megawatts in Q2 2021,” Joyce stated.

The CEO explained that supply-chain issues caused the declines. He noted that ” demand for our fleet specific megawatt scale charging solutions continues to expand.”

Last quarter, moreover, Proterra delivered an impressive total of 52 electric buses, up 30% versus Q1 as its supply-chain issues improved. The company’s bus deliveries generated $51 million of revenue in Q2.

As the growth of Proterra’s electric bus business accelerates, driven by the energy transition and increased government funding, its charging revenue should also increase tremendously.

On the date of publication, Larry Ramer owned shares of EVGO.