ChargePoint Holdings, Inc. (NYSE:CHPT) shares are trading higher on Wednesday after the firm revealed a strategic collaboration with Eaton, a leading power management firm.

The partnership aims to speed up the rollout of electric vehicle charging infrastructure across North America and Europe by offering integrated solutions that combine EV chargers, power systems, and engineering services. The effort is designed to simplify project execution while minimizing costs for customers.

Under the alliance, ChargePoint and Eaton will collaborate to create end-to-end electrification solutions, including advancements in bidirectional power flow and vehicle-to-everything (V2X) technology. This will enable EVs to operate as mobile energy hubs, powering homes, commercial buildings, and more.

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By integrating EV chargers and supporting infrastructure, the companies intend to make it easier for organizations to electrify their fleets and facilities.

The collaboration positions ChargePoint to deliver a full-service EV ecosystem, bridging gaps between vehicles, charging networks, and energy grids through its cloud-based software platform.

According to Benzinga Pro, CHPT stock has lost over 57% in the past year. Investors can gain exposure to the stock via WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS:WBAT).

“ChargePoint’s partnership with Eaton will deliver innovation that addresses the biggest barriers to electrified transportation,” said Rick Wilmer, ChargePoint’s CEO.

Paul Ryan, General Manager of Energy Transition at Eaton, said the customers habitually turn to Eaton for solutions to their most complex power management challenges, and this partnership is set to directly address that need for vehicle charging, bringing together trusted power distribution and EV charging solutions to simplify electrification at scale.

Price Action: CHPT shares are trading higher by 2.56% to $0.7231 at last Wednesday.

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