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EVgo announced second quarter results for 2021, reporting revenue of $4.8 million, up from $4.1 million in Q1 2021. The customer count has surpassed 275,000, reflecting the strong uptake of EV adoption and EVgo’s products. Notably, the company added 104 new charging stalls, bringing the total to 1,548. Despite the growth, EVgo faces challenges with a net loss of $18.4 million and a gross loss of $2.8 million. The company's guidance for full-year revenue is affirmed at $20 million.
EVgo Inc (NASDAQ: EVGO) has installed eight new public fast chargers at Lot 29 in Santa Monica, California. These chargers support the City’s Electric Vehicle Action Plan and provide zero-emission charging with Level 3 DC fast charging capabilities. Six of the chargers deliver 180 miles of range in just 15 minutes, while two offer 90 miles in the same time. This expansion is part of a broader initiative to meet the rising demand for electric vehicle charging in California, emphasizing EVgo's commitment to enhancing infrastructure and promoting the use of electric vehicles.
EVgo Inc. (Nasdaq:EVGO), a leader in the public fast charging network for electric vehicles, has acquired Recargo for $25 million in cash. This acquisition enhances EVgo's infrastructure by integrating Recargo’s software expertise, particularly the PlugShare platform, which has approximately 3 million app downloads and offers essential EV charging data. The partnership aims to innovate the charging experience and expand EVgo's reach, leveraging Recargo's robust community data and app capabilities to streamline payments and enhance user experience.
