The U.S. government is deploying trillions of dollars of stimulus money into infrastructure investments, boosting the prospects for a number of industrials in the Club portfolio. On the back of Covid’s impact on the economy, President Joe Biden enacted a slew of domestic funding bills in a bid to help the nation recover from labor constraints and financial losses due to the pandemic. The Infrastructure Investment and Jobs Act, commonly known as the Bipartisan Infrastructure Bill, was signed in late 2021 and the Inflation Reduction Act, also referred to as IRA, became law in August 2022. Since being enacted, the Bipartisan Infrastructure Act was slated to send $1 trillion over the span of five years to states and local governments for upgrading outdated roads, bridges and transit systems — projects that use the products and services provided buy our leading industrial names Caterpillar (CAT), whose stock has soared since June and trades around record highs. Looking ahead, Caterpillar also stands to benefit from a second wave of government spending when federal dollars from the $430 billion Inflation Reduction Act, designed to fund manufacturing and infrastructure investments, are released into the pipeline. Club names Honeywell (HON) and Emerson Electric (EMR) might also grab some of the IRA’s funding for green energy. Emerson has been on a roll since June. As for Honeywell, it mounted a comeback from the spring and into the summer but then fell on hard times after the company issued disappointing financial results late last month. Wall Street cheered the influx of funding. Morgan Stanley Chief U.S. Economist Ellen Zentner said that the increased spending forced the bank to make a “sizable upward revision” to its estimates for U.S. gross domestic product (GDP). “The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” she wrote in a July note. As a result , Morgan Stanley estimates GDP growth for the first half of 2023 at 1.9% — nearly four times its previous forecast — and bumped up forecasts for real GDP growth next year at 1.4%. “The narrative behind the numbers tells the story of industrial strength in the U.S.,” Zentner added. Crediting the enormous amount of government stimulus, BlackRock’s Larry Fink said the U.S. will not tip into a recession in 2023. “Think about how many jobs infrastructure creates. Think about the demand for commodities as we build infrastructure,” the chief of the world’s largest asset management firm previously told CNBC . CAT YTD mountain Caterpillar YTD performance Caterpillar can thank the influx of stimulus for its blowout second-quarter results on Aug. 1, beating analysts’ estimates for revenue and earnings and sparking a much-deserved rally that day of nearly 9% to an all-time closing high of $288.65 per share. Construction sales surged 19% to $7.15 billion for the quarter, “driven by the impact from changes in dealer inventories and higher sales of equipment to end users,” Caterpillar said. Gains were linked to a boost in demand for construction equipment because of the “once in a generation” Infrastructure bill. In last week’s conference after the earnings release, CEO Jim Umpleby said the firm expects “continued growth in nonresidential construction in North America due to the positive impact of government-related infrastructure investments and a healthy pipeline of construction projects.” “I remain convinced that federal largesse will fall into the lap of Club holding Caterpillar, and it’s wrong to ignore what will be a gusher into American-made earth-moving equipment and steel,” Jim Cramer wrote in an Investing Club column back in April. Caterpillar is the biggest maker of earth-moving equipment in the U.S. Shortly after Caterpillar’s Q2 earnings release, we boosted our CAT price target to $300 per share from $285. We kept our 2-rating at the time in deference to its surge. On Aug. 7, we took some profit s but still believe in the stock. HON YTD mountain Honeywell YTD performance Before the Bipartisan Infrastructure bill was enacted, Honeywell said in July 2021 that it would likely lead to “long-term economic growth ,” a dynamic playing out two years later as the government money begins to make its way to companies that make the industrial products, heavy equipment and machinery needed for these large-scale projects. While its Q2 results were not as robust as Caterpillar’s quarter, Honeywell did provide several reasons for optimism including a strong overall segment profit margin that helped the bottom line outperform and robust cash flow performance. Nevertheless, HON shares sank more than 5.5% on earnings day July 27, and they have only advanced three sesions out of the past nine. Honeywell’s crack at really benefitting from government spending may come when green energy programs funded by Inflation Reduction Act kick into gear. The stimulus, in part, provides production and investment tax credits for renewable projects. In a July note, Bank of America listed Honeywell as one of the stocks that stand to gain from the IRA because of the company’s relation to renewable power systems. EMR YTD mountain Emerson Electric YTD performance In a March note, Morgan Stanley analyst Josh Pokrzywinski upgraded industrial automation provider Emerson Electric to buy from hold, citing a growth in sales between 4% and 5% annually, in line with the industrials economy. Since the IRA gives companies new incentives for hydrogen use, the analysts say Emerson’s business is likely to benefit from that as well. The company is a leading provider of hydrogen solutions and automation. After being derailed by uncertainty around the friendly, then hostile, then friendly National Instruments (NATI) deal, Emerson shares have been making up ground. The National Instruments transaction is expected to close in the first half of next year. Last week’s release of strong fiscal third-quarter results and a guidance raise further boosted Emerson’s stock. Sales at the company’s two operating units beat estimates its fiscal third quarter: Intelligent Devices rose by nearly 11% to $3.95 billion and Software & Control increased nearly 22% to $983 million. The results are another example of how Emerson’s efforts to re-orient its portfolio around automation have helped its customers with their own energy transition initiatives in the areas of the aforementioned hydrogen space as well as liquified natural gas (LNG), nuclear, carbon capture, and renewables. (Jim Cramer’s Charitable Trust is long CAT, EMR, HON. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Construction workers work on repairing an intersection on November 22, 2022 in Houston, Texas. The White House’s infrastructure plan estimates to set aside approximately $35 billion for Texas projects.
Brandon Bell | Getty Images
The U.S. government is deploying trillions of dollars of stimulus money into infrastructure investments, boosting the prospects for a number of industrials in the Club portfolio.
Elon Musk implies that he’ll quit his part-time job as CEO of Tesla (TSLA) if he doesn’t get his $1 trillion pay package. On today’s episode of Quick Charge, I suggest GM’s Mary Barra should replace him, and explore some of the compelling EV deals out there looking to take a bite out of Elon’s market share.
In addition to my take on what the TSLA board should or shouldn’t decide, we’ve got a pile of EV lease deals, some hot, upcoming new electric Jeep models, and a look at some of the ways the end of the Federal EV tax credit isn’t the end at all.
Quick Charge is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. The nonprofit just kicked off its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit CarbonRaffle.org/Electrek to learn more.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
The US added more than 4,000 new DC fast-charging ports in Q3 2025, pushing the total past 64,000. The country’s EV infrastructure keeps maturing, despite new station openings slowing slightly this summer.
US DC fast-charging ports expand past 64,000
According to EV charging data platform Paren’s latest “State of the US Fast EV Charging Industry Report,” the number of public DC fast-charging ports climbed to 64,486 across 12,375 charging stations nationwide in Q3 2025. That’s despite a modest slowdown in new openings: Operators added 699 new stations, down 12% from Q2, and 4,061 new ports, down 7.7%.
Paren says the dip mirrors seasonal trends seen in 2024 and expects growth to rebound in Q4, with early October data already coming in strong. The company still projects the US to add around 16,700 new ports by the end of 2025. Notably, larger charging stations are becoming the norm: 27% of all stations now have eight or more stalls, up from 23% last quarter.
Tesla dominates new ports, and the market widens
Tesla led Q3 deployments with 1,820 new ports – nearly 45% of all added nationwide. ChargePoint (300), Red E (215), Electrify America (164), and EV Connect (146) rounded out the top five. But Paren notes that smaller and regional operators collectively accounted for 21% of new ports, demonstrating how the market is diversifying.
Advertisement – scroll for more content
Every state added at least one new fast-charging station this quarter. California again led the pack with 108 new sites, followed by Texas, New York, Florida, and Illinois. Upstart network Ionna, formed earlier this year by seven automakers, opened 12 new stations with 132 ports. At the same time, Michigan-based Red E jumped to third place after expanding across 18 states, including new sites at Aldi supermarkets.
Summer travel lifted fast charging demand
The summer travel season drove EV charging activity higher across almost the entire US. Fast charger use increased in 45 states, stayed flat in one, and dipped in five. Maine saw the biggest bump (+1.9 in utilization growth), followed by Montana (+1.8), New York (+1.8), and Oregon (+1.8), all reflecting busier tourism routes and expanding highway and corridor buildouts.
Paren also found signs that Tesla’s opening its Supercharger network to non-Tesla EV drivers is shifting behavior. Some non-Tesla charging stations saw slight utilization declines, suggesting a growing number of drivers are switching to Tesla’s network for convenience.
It’s all about reliability and upkeep
Paren’s “reliability index” measures charger reliability, taking into account recent successful charge sessions with and without retries, failed charge attempts, and station downtime over a specific time period.
Reliability based on Paren’s definition inched up again, from 92.1% to 92.3%. Thirty-two states improved their reliability scores this quarter, while 15 declined and four held steady. Oklahoma showed the biggest improvement (+4.4), though it still ranks last overall at 73.3%. Mississippi (91.1, +2.6) and Idaho (92.1, +2) also made solid gains, while Rhode Island (88.2, -2.7) and Alaska (96.3, -1.9) saw declines.
Paren says reliability now depends less on geography and more on operator performance, site age, and proactive maintenance. With more federally and state-funded chargers coming online, the focus is shifting from buildout to upkeep. Operators investing in preventive maintenance, faster outage response, and top-quality software integration will be best positioned to keep drivers happy.
Average fast-charging prices rose by a penny
Nationwide average pricing rose by a penny in Q3 to $0.49 per kilowatt-hour, with most states falling between $0.48 and $0.54. Hawaii remains the priciest at $0.85/kWh, while Nebraska is the cheapest at $0.42/kWh. Several charge point operators offered summer discounts and promotional rates, but Paren found no clear link between lower prices and higher use.
A few states saw notable price swings: Alaska jumped $0.04, while Arkansas dropped $0.05 and Hawaii fell $0.07. The jury’s still out on whether rates continue rising post-summer; that will depend on wholesale electricity costs, demand trends, and competition among networks.
Electrek’s Take
Paren’s Q3 snapshot shows a maturing charging market: slightly slower but steady growth, improving reliability, and broader competition. Tesla’s Superchargers are still leading the pack when it comes to the volume of new ports being rolled out. Still, the fast charging landscape is expanding with more regional players and multi-port hubs with both NACS and CCS capability across the map. A big priority now is to keep those chargers working and affordable as more people switch to EVs.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
Is it electric? A hybrid? A new Toyota crossover SUV was spotted testing out in public rocking a unique look.
New Toyota EV crossover and SUVs are coming soon
Toyota is gearing up to launch a series of new battery electric (BEV), hybrid, and plug-in hybrid (PHEV) vehicles over the next few years in nearly every market.
In the US, Toyota currently offers just one fully electric vehicle (excluding the Lexus RZ), the bZ (formerly the bZ4X), but that will soon change.
Toyota plans to offer seven fully electric vehicles by mid-2027, including under its luxury Lexus brand. Joining the updated bZ and Lexus RZ next year will be the smaller C-HR crossover and more rugged bZ Woodland SUVs.
Advertisement – scroll for more content
Shortly after, it will introduce two electric SUVs that Toyota will build at its plant in Kentucky. Although Toyota has yet to announce it publicly, the new electric SUVs are expected to be based on the RAV4 and Land Cruisers. They will replace the Lexus ES in Kentucky, while the next-gen EV version will be exported to the US from Japan.
From left to right: Toyota’s new C-HR+, bZ4X, and Urban Cruiser electric SUVs (Source: Toyota Europe)
In Europe, Toyota will launch the updated bZ4X, CH-R+, and Urban Cruisers by the end of the year. Three additional crossovers and SUVs are set to follow in 2026.
While we already know what most of those will looks like, the new crossover SUV doesn’t appear to be any of them. The spy photos from SH Proshots (via Autoevolution) show what looks to be the next-gen Toyota Venza, or the Harrier for those outside of the US.
You can tell it’s a bit taller and less aerodynamic than the electric crossover SUVs that Toyota showcased earlier this year.
The Venza was a bit of a step up from your average Toyota SUV with a more premium feel, but it was discontinued after the 2024 model year to make way for the Crown Signia.
Toyota RAV4 PHEV (Source: Toyota)
Although Toyota has yet to reveal anything about the next-gen Venza, rumors suggest it will be built on the TNGA-K platform, which underpins the new RAV4. The platform is designed to open up interior space with a lower center of gravity.
The new Toyota Audio Multimedia system (Source: Toyota)
Inside, you can expect to see Toyota’s latest Audio Multimedia system, which also debuted in the new RAV4. The setup includes a standard 10.5″ smartphone-like touchscreen infotainment or you can upgrade to the larger 12.9″ screen.
Given Toyota has yet to publicly announced the next-gen Venza, powertrain options is still up in the air. The report speculates it will arrive as a self-charging hybrid or plug-in hybrid (PHEV), or both.
Since it’s still in its early stages, the new model isn’t expected to launch until 2027. It could arrive as a 2028 model year in the US.
FTC: We use income earning auto affiliate links.More.