Electric vehicle (EV) stocks have proven profitable for investors, providing multibagger returns. As transportation continues to move in a more environmentally friendly direction, investors can continue to capitalize on opportunities not only in EV makers, but in EV charging stocks as well.

While EV manufacturers often hog the spotlight, the EV charging industry is a crucial component in the electrification of transportation. After all, all those shiny, new EVs won’t get far without charging stations.

But not all EV charging stocks are created equal. While some are profitable or at least on the path to profitability, others are not. Below are three EV charging stocks that offer a great long-term way to play the infrastructure behind the EV movement.

ChargePoint (CHPT)

ChargePoint (NYSE:CHPT) has seen tremendous revenue growth, but this hasn’t yet been reflected in the stock’s performance. However, this allows shareholders to invest before the stock market recognizes the company’s worth. When the market acknowledges ChargePoint’s potential, patient shareholders can expect significant returns.

The company’s latest fiscal year ended on Jan. 31. Revenue for the fourth quarter of fiscal 2023 was up 93% year over year to $153 million. For the full year, revenue rose 94% to $468 million. This was the company’s “largest sequential revenue growth to date and another record quarter,” said Chief Executive Officer (CEO) Pasquale Romano.

Analysts are calling for revenue growth to exceed 50% this year and next and for losses to continue to shrink. Once ChargePoint achieves profitability, the stock price could surge and sway critics to become long-term investors.

Blink Charging (BLNK)

If you’re interested in investing in the clean energy vehicle infrastructure industry, Blink Charging (NASDAQ:BLNK) provides a promising opportunity. This electric vehicle charging port provider is expanding its presence in the United States and internationally, which could lead to an increase in its share price. 

Investors have overlooked the company’s global expansion plans thus far, leading to a disparity between its share price and its multiple ventures across different regions. Although some volatility may be involved, investing in Blink Charging now could lead to substantial long-term gains.

The 67% drop in Blink’s share price over the past year does not necessarily indicate that it is a failing company. As my InvestorPlace colleague David Moadel recently pointed out, “Blink Charging is making moves domestically and abroad. The company has contracts with the U.S. government but is also making headway in the U.K. and India. Yet, it seems like many investors don’t appreciate Blink’s global ambitions and the company’s rapid multi-national growth.”

Moadel calls this a “prime opportunity” to take a small position in BLNK. I agree.

EVgo (EVGO)

EVgo’s (NASDAQ:EVGO) fast electric vehicle charging network comprises over 850 locations across the United States, serving over 500,000 customers. Currently, 42% of the U.S. population lives within a 10-mile radius of an EVgo fast charger, according to the company, which plans to “triple in size over the next five years.”

EVgo reported its latest quarterly results on March 30. Q4 revenue increased a whopping 283% year over year to $27.3 million. Meanwhile, full-year revenue was up 146% to $54.6 million. The company added around 670 new stalls in 2022, bringing its total number of stalls in operation or under construction to 2,800.

Although analysts have differing opinions regarding EVgo’s prospects, many investors and hedge funds appear confident in its objective to offer charging solutions to the expanding EV market. As more individuals adopt electric vehicles and governments enact more eco-friendly policies, companies like EVgo are in a favorable position to reap the benefits of this transition.

While the company’s revenue projection for 2023 came in below expectations, it still expects revenue to more than double at the midpoint of its guidance. And analysts are forecasting losses will shrink over the next two years.

In short, EVgo holds great promise due to its expanding user base and revenue growth as it moves closer to profitability. 

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.