EVgo Announces Major Network Enhancements Across Nationwide Fast Charging Network
EVgo Inc. (NASDAQ: EVGO), a major public fast charging network for electric vehicles, has announced significant network enhancements through its EVgo ReNew™ program. Key improvements include:
1. Equipment upgrades: Over 500 stalls across 20+ states upgraded or replaced since 2022, with plans for 150 more in 2024.
2. High-power charging: 115% increase in 350kW chargers over the past year.
3. Larger stations: 80% increase in sites serving 6+ vehicles.
4. New Canary Model: A data-driven tool for faster diagnostics and repairs.
5. Reduced repair times: 67% reduction in mean time to repair since Q1 2023.
6. Enhanced software: Improved cable monitoring and connectivity.
7. Extensive testing: Interoperability testing on 70+ EV models.
These enhancements aim to improve customer experience and strengthen EVgo's market position amid growing competition.
EVgo Inc. (NASDAQ: EVGO), una delle principali reti pubbliche di ricarica rapida per veicoli elettrici, ha annunciato importanti miglioramenti alla rete attraverso il suo programma EVgo ReNew™. I principali miglioramenti includono:
1. Aggiornamenti delle attrezzature: Oltre 500 stalli in più di 20 stati sono stati aggiornati o sostituiti dal 2022, con piani per ulteriori 150 nel 2024.
2. Ricarica ad alta potenza: Incremento del 115% dei caricabatterie da 350kW nell'ultimo anno.
3. Stazioni più grandi: Aumento dell'80% dei siti che servono più di 6 veicoli.
4. Nuovo modello Canary: Uno strumento basato sui dati per diagnosi e riparazioni più rapide.
5. Tempi di riparazione ridotti: Riduzione del 67% del tempo medio di riparazione dal Q1 2023.
6. Software potenziato: Monitoraggio e connettività migliorati dei cavi.
7. Test approfonditi: Test di interoperabilità su oltre 70 modelli di veicoli elettrici.
Questi miglioramenti mirano a migliorare l'esperienza del cliente e rafforzare la posizione di mercato di EVgo in un contesto di crescente concorrenza.
EVgo Inc. (NASDAQ: EVGO), una de las principales redes públicas de carga rápida para vehículos eléctricos, ha anunciado importantes mejoras en la red a través de su programa EVgo ReNew™. Las mejoras clave incluyen:
1. Actualizaciones de equipos: Más de 500 estaciones en más de 20 estados actualizadas o reemplazadas desde 2022, con planes para 150 más en 2024.
2. Carga de alta potencia: Aumento del 115% en cargadores de 350kW en el último año.
3. Estaciones más grandes: Incremento del 80% en sitios que sirven a más de 6 vehículos.
4. Nuevo modelo Canary: Una herramienta impulsada por datos para diagnósticos y reparaciones más rápidas.
5. Reducción de tiempos de reparación: Disminución del 67% en el tiempo medio de reparación desde el primer trimestre de 2023.
6. Software mejorado: Monitorización y conectividad de cables mejoradas.
7. Pruebas exhaustivas: Pruebas de interoperabilidad en más de 70 modelos de vehículos eléctricos.
Estas mejoras tienen como objetivo mejorar la experiencia del cliente y fortalecer la posición de mercado de EVgo en medio de una creciente competencia.
EVgo Inc. (NASDAQ: EVGO), 전기차를 위한 주요 공공급속 충전 네트워크가 EVgo ReNew™ 프로그램을 통해 네트워크의 중요한 개선 사항을 발표했습니다. 주요 개선 사항은 다음과 같습니다:
1. 장비 업그레이드: 2022년 이후 20개 주 이상에서 500개 이상의 스톨이 업그레이드 또는 교체되었으며, 2024년에는 150개 추가 계획이 있습니다.
2. 고출력 충전: 지난 1년 동안 350kW 충전기 사용이 115% 증가했습니다.
3. 더 큰 충전소: 6대 이상의 차량을 수용하는 사이트가 80% 증가했습니다.
4. 신규 카나리 모델: 더 빠른 진단 및 수리를 위한 데이터 기반 도구입니다.
5. 수리 시간 단축: 2023년 1분기부터 평균 수리 시간이 67% 줄어들었습니다.
6. 소프트웨어 개선: 케이블 모니터링 및 연결성 개선.
7. 광범위한 테스트: 70개 이상의 전기차 모델에 대한 상호 운용성 테스트.
이러한 개선 사항은 고객 경험을 개선하고 EVgo의 시장 입지를 강화하기 위한 것입니다.
EVgo Inc. (NASDAQ: EVGO), un des principaux réseaux publics de recharge rapide pour véhicules électriques, a annoncé d'importantes améliorations de son réseau grâce à son programme EVgo ReNew™. Les principales améliorations comprennent :
1. Mises à niveau de l'équipement : Plus de 500 bornes dans plus de 20 états ont été mises à niveau ou remplacées depuis 2022, avec des plans pour 150 de plus en 2024.
2. Recharge haute puissance : Augmentation de 115 % des chargeurs de 350 kW au cours de l'année passée.
3. Stations plus grandes : Augmentation de 80 % des sites pouvant accueillir plus de 6 véhicules.
4. Nouvelle modélisation Canary : Un outil basé sur les données pour des diagnostics et des réparations plus rapides.
5. Temps de réparation réduits : Réduction de 67 % du temps moyen de réparation depuis le premier trimestre 2023.
6. Logiciel amélioré : Surveillance et connectivité des câbles améliorées.
7. Tests approfondis : Tests d'interopérabilité sur plus de 70 modèles de véhicules électriques.
Ces améliorations visent à améliorer l'expérience client et à renforcer la position de marché d'EVgo dans un environnement de concurrence croissante.
EVgo Inc. (NASDAQ: EVGO), eines der führenden öffentlichen Schnellladenetzwerke für Elektrofahrzeuge, hat bedeutende Netzwerkverbesserungen durch sein EVgo ReNew™-Programm angekündigt. Zu den wichtigsten Verbesserungen gehören:
1. Ausrüstungsaufwertungen: Über 500 Ladesäulen in mehr als 20 Bundesstaaten wurden seit 2022 aufgerüstet oder ersetzt, mit Plänen für 150 weitere im Jahr 2024.
2. Hochleistungsladung: 115% Anstieg bei 350 kW-Ladegeräten im vergangenen Jahr.
3. Größere Stationen: 80% Anstieg bei Standorten für über 6 Fahrzeuge.
4. Neues Canary-Modell: Ein datengestütztes Tool für schnellere Diagnosen und Reparaturen.
5. Reduzierte Reparaturzeiten: 67% Reduktion der durchschnittlichen Reparaturzeit seit dem 1. Quartal 2023.
6. Verbesserte Software: Verbesserte Überwachung und Konnektivität von Kabeln.
7. Umfangreiche Tests: Interoperabilitätstests an über 70 Elektrofahrzeugmodellen.
Diese Verbesserungen zielen darauf ab, die Kundenerfahrung zu verbessern und die Marktposition von EVgo in einem zunehmend wettbewerbsintensiven Umfeld zu stärken.
- Upgraded or replaced equipment at over 500 charging stalls across 20+ states since 2022
- 115% increase in the number of 350kW high-power charging stalls over the past year
- 80% increase in sites capable of serving at least six vehicles compared to last year
- Launched Canary Model, a new automated performance monitoring tool for faster diagnostics
- Reduced mean time to repair chargers by 67% since Q1 2023
- Upgraded charger antennae, reducing internet connectivity downtime by almost half in the first two quarters of 2024
- Performed interoperability testing on more than 70 EV models
- Significant reduction in charging sessions requiring call center assistance since January 2023
- None.
Insights
EVgo's network enhancements signal a significant leap forward in the competitive EV charging landscape. The company's focus on upgrading and expanding its infrastructure is important for meeting the growing demand from mainstream EV adopters. The
The introduction of the Canary Model for performance monitoring is a game-changer. This data-driven approach to diagnostics and maintenance should significantly improve uptime and customer satisfaction. The
EVgo's focus on user experience, including on-screen assistance and enhanced language support, addresses critical pain points for new EV adopters. These initiatives, combined with the planned next-generation charging architecture, position EVgo well for the expected surge in EV adoption over the coming years.
EVgo's strategic investments in network enhancements reflect a proactive approach to capturing market share in the rapidly growing EV charging sector. The company's focus on upgrading legacy equipment and expanding high-power charging capabilities should improve asset utilization and potentially drive revenue growth.
The
While these initiatives require significant upfront investment, they position EVgo to potentially capture a larger share of the expanding EV charging market. Investors should monitor how these enhancements translate into financial performance, particularly in terms of revenue growth, margins and market share gains in the coming quarters.
Newest advancements made through EVgo ReNew™ underscore EVgo’s commitment to leading the industry amid a changing competitive landscape
A renewed EVgo fast charging station in
“As the EV industry expands from early adopters to mass market consumers, EVgo’s commitment to delivering a best-in-class charging experience is more important than ever,” said Dennis Kish, President of EVgo. “EVgo’s new performance monitoring tool, software updates, and ongoing equipment replacement and upgrade efforts are just some of the ways we are future proofing our fast charging network to satisfy customer demand and prepare for the growing number of EV drivers hitting the road.”
EVgo’s ReNew program encompasses six pillars – Resilience, Prevention, Diagnostics, Rapid Response, Analysis, and Continuous Customer Service – that define the Company’s approach to reliability and customer experience. Below are the highlights of today’s announcement:
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Resilience
- ReNewed Equipment: Since the start of 2022, EVgo has upgraded, replaced or decommissioned legacy equipment at more than 500 stalls across over 20 states to better serve our customers.1 The Company plans to remove or replace legacy equipment with the most advanced models, installing higher power chargers where possible, at up to 150 additional EVgo owned stalls in 2024.
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More High Power Stalls: EVgo continues to deploy high-power fast charging, with the network seeing a more than
115% increase in the number of stalls served by 350kW chargers over the last year.2 -
Larger Stations: EVgo has increased the number of sites capable of serving at least six vehicles by over
80% compared to last year and continues to identify more locations capable of serving up to 10 vehicles at a time.3 -
Streamlined Payment: Sessions initiated via Autocharge+ in the second quarter of 2024 increased over
200% compared to the second quarter of 2023.
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Prevention, Diagnostics and Rapid Response
- New Performance Monitoring Tool: EVgo launched the Canary Model, an automated, data-driven tool, to expedite field service response time and enable the Company to address root cause issues more rapidly.
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Reduced Repair Timelines: EVgo reduced the mean time to repair chargers by
67% since the first quarter of 2023. - Cable Signal Detection: EVgo updated charger software across its network to include round-the-clock cable signal monitoring. If a cable signal is lost—whether due to a drop, cable breakage or intentional damage—the Company is automatically notified within seconds.
- Connectivity Upgrades: EVgo upgraded charger antennae across its nationwide network, reducing internet connectivity downtime by almost half in the first two quarters of this year.
- Extensive Vehicle Interoperability Testing: To date, EVgo has performed interoperability testing on more than 70 EV models, including passenger vehicles, motorcycles, and light- to heavy-duty trucks. This continued focus on interoperability is critical to ensuring a flawless “handshake” between the vehicle and charging equipment, and the delivery of a seamless customer experience.
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Continuous Customer Service
- On-Screen Assistance: Earlier this year, EVgo updated its charger firmware to start rolling out detailed step-by-step charging instructions and progress bars on the majority of charger screens to help new EV drivers successfully navigate their first fast charge.
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Enhanced Language Support: Over
10% of calls to the EVgo’s customer support team are handled by Spanish-speaking representatives. - More Charging Successes: Since January 2023, EVgo has seen a significant reduction in the percentage of charging sessions requiring call center assistance as more customers are successfully powering up on their first try.
In addition to progress achieved through the ReNew program, EVgo is also working to develop a next generation charging architecture designed to deliver new cost efficiencies and further elevate the customer experience with enhanced firmware. EVgo recently passed critical internal milestones for this development and expects to deploy this new architecture in the second half of 2026.
EVgo remains engaged as a thought leader in ChargeX, CharIN, and SAE industry groups advocating for codes and standards improvements that will benefit EV drivers over the long-term. For more information on EVgo’s recommended industry best practices, please see our guide.
To learn more about each pillar of EVgo ReNew, visit www.evgo.com/renew. For more information about the EVgo network, visit www.evgo.com.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in electric vehicle charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. EVgo is one of the nation’s largest public fast charging networks, featuring over 1,000 fast charging locations across more than 35 states, including stations built through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," “proposed,” "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are subject to numerous assumptions, risks and uncertainties and on the current expectations of EVgo’s management, and are not predictions of actual performance. See “Risk Factors” in EVgo’s Annual Report on Form 10-K filed with the SEC on March 6, 2024, as well as its other filings with the SEC, copies of which are available on EVgo’s website at investors.evgo.com, and on the SEC’s website at www.sec.gov. All forward-looking statements in this press release are based on information available to EVgo as of the date hereof, and EVgo does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
1 Stall counts for site upgrades include the number of stalls added gross of removed stalls.
2 Stall counts are as of June 30, 2024 compared to June 30, 2023.
3 Location counts are as of June 30, 2024 compared to June 30, 2023.
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Source: EVgo
FAQ
What is EVgo's ReNew program and how does it improve the charging network?
How many charging stalls has EVgo upgraded or replaced since 2022?
What is the Canary Model introduced by EVgo (EVGO)?
How has EVgo (EVGO) improved its repair times for charging stations?
