WEX expands EV charging network through new partnerships

PORTLAND, Maine - WEX (NYSE:WEX), a global commerce platform with a market capitalization of $5.7 billion and impressive 72% gross margins, announced Tuesday it has expanded its electric vehicle charging network through new partnerships with charge point operators Lynkwell and Revel, along with a payments integration with smart charging platform Ampcontrol. According to InvestingPro analysis, WEX appears undervalued based on its Fair Value calculations.

The expansion adds hundreds of new charging stations across the United States that will accept payments from WEX users, providing customers access to a more extensive EV charging network.

WEX’s EV En Route solution now enables drivers to access over 150,000 public charging ports across the U.S., including stations from EVgo, Blink, ChargePoint, and others. Users can access these stations via the DriverDash mobile app or a universal WEX EV RFID card under a secure closed-loop payment system.

The Lynkwell integration positions the company as the only all U.S.-based, vertically-integrated EV charging company to provide WEX corporate-grade payment capabilities across its station networks. Lynkwell manages 10,000 assets through its cloud-based EV charging software platform.

Revel, which operates the largest network of public fast chargers in New York City with multiple DC fast charging superhubs offering 150 kW to 320 kW ports, will now make its infrastructure accessible to WEX users.

Ampcontrol’s AI-powered software and energy management platform, which helps EV fleet operators optimize charging infrastructure, will also integrate with WEX’s payment system.

This expansion follows WEX’s introduction of its EV Depot solution in April 2025, which provides charging at private chargers when using the WEX fleet card. The company now offers EV charging payments across depot, public, and at-home charging locations.

According to the press release statement, WEX is the first fleet management business in North America to offer such comprehensive EV charging payment solutions. With 10 analysts recently revising earnings estimates upward and strong recent market performance, WEX shows promising growth potential. For detailed analysis and additional insights, access the comprehensive Pro Research Report available on InvestingPro, which covers this and 1,400+ other top US stocks.

In other recent news, Wex Inc reported impressive earnings for the second quarter of 2025, surpassing analysts’ expectations. The company’s earnings per share (EPS) came in at $3.95, beating the forecast of $3.71. Additionally, Wex’s revenue reached $659.6 million, exceeding the anticipated $648.87 million. These positive results highlight the company’s strong financial performance. In another development, Mizuho raised its price target for Wex to $185 from $150, maintaining an Outperform rating. This adjustment reflects confidence in the company’s potential, following a period of stock gains. These recent developments indicate a positive outlook for Wex, as reflected by the analyst’s raised price target and the company’s robust earnings report.

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