June 23, 12:05 PM

In a post on SeekingAlpha.com, Carlos Uribe notes the slow installation pace of NRG Energy's eVgo car charging network -- particularly in Texas and the D.C./Baltimore area -- and speculates that the company could look to an acquisition to gain market share.

Uribe reports that NRG's eVgo has installed 98 public charging stations, compared to the Car Charging Group's 7,000 public stations, and identifies the Car Charging Group as a logical acquisition target.

However, we view NRG's slow rollout of eVgo as reflecting demand (or lack thereof), rather than being beat in the marketplace as Uribe suggests.

As noted recently by Morgan Stanley, via Barron's, regarding lagging EV sales: "Just a few years ago, forecasts for global EV penetration were as high as 5 or 10% by 2020. From today’s perspective, we think penetration in the 1% range would be respectable."

See More: SeekingAlpha.com: In California, Car Charging Group Charges Ahead While NRG Energy Stumbles

Tags:
NRG Energy   eVgo   EVs   Car Charging Group  

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