EVgo Named by GM as a Preferred Provider for EV Fleets

Rhea-AI Summary

EVgo, the leading public fast charging network for electric vehicles, has been named a preferred provider for General Motors' Ultium Charge 360 fleet service. This partnership will result in new charging solutions for GM fleet and BrightDrop customers, enabling access to over 800 charging locations nationwide. GM's commitment to invest $35 billion in electric vehicles through 2025 enhances the significance of this collaboration. EVgo's 98% uptime ensures reliability, which is crucial for fleet operations transitioning to electric vehicles.

Positive

• Partnership with GM as a preferred provider for Ultium Charge 360 fleet service.
• Access to over 800 fast charging locations nationwide for GM fleet and BrightDrop customers.
• GM's $35 billion investment in EVs by 2025 supports EVgo's growth.
• EVgo maintains a 98% uptime across its charging stations, ensuring reliability.

Negative

• None.

EVgo Inc., (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that General Motors Company (GM) has named it a preferred provider for the company’s Ultium Charge 360 fleet service. With the announcement, EVgo will deploy comprehensive new charging and infrastructure solutions specifically for GM fleet and BrightDrop customers; in addition, these customers can receive program discounts at EVgo’s nationwide network of more than 800 public fast charging locations.

Automakers around the globe have announced more than $300 billion of EV investments, and just last month, GM, announced its plans to spend $35 billion through 2025 on EVs and AVs, an increase of 75% from March 2020 before the COVID-19 pandemic.

Today’s news will help enable a seamless experience as EVgo can provide one stop shopping for fleet customers looking for charging solutions from Level 2 charging at the depot to away-from-base fast charging options. GM’s Ultium Charge 360 fleet service will support EV fleet electrification for rideshare, delivery, municipal, autonomous, government and other market segments and includes a curated, comprehensive offering for fleet customers who are transitioning to electric vehicles. EVgo’s commitment to powering EV fleets furthers the joint vision in achieving electrification for all.

GM tapped EVgo as a preferred provider to leverage its dedication to innovation and deep expertise in designing, building and maintaining EV infrastructure across the country, including dedicated charging services for fleets. Reliability is a key factor for mission critical fleets, and EVgo maintains uptime of 98%¹ across thousands of charging stations. EVgo can help fleet owners realize electrification’s significant benefits, empowering them to recognize lower total cost of ownership, meet emerging regulations and lead on corporate sustainability.

Through the GM Ultium Charge 360 service, EVgo will offer GM fleet and BrightDrop customers turnkey fleet solutions tailored to meet their unique and diverse needs, from fleet transition planning to equipment provisioning, infrastructure deployment, dedicated depots, integrated software solutions and ongoing operations and maintenance.

This announcement is the latest in a series of joint milestones for the two companies. In July 2020, GM and EVgo announced plans to accelerate widespread EV adoption by adding more than 2,700 fast chargers in markets across the country through 2025. In April, the companies brought the first stations online in California, Florida and Washington.

“As fleets and fleet managers transition to an all-electric future, empowering them with convenient and integrated charging solutions will be critical to expanding this key market segment. GM and EVgo are building on their relationship and will provide solutions for on-the-go to depot charging helping to ensure drivers have access to EVgo’s public charging network, making it easy for fleet drivers to charge when and where they need to,” said Alex Keros, Lead Architect, EV Infrastructure, General Motors.

“EVgo and GM both know how important it is to electrify fleets—for the economic benefit of fleet managers and for the planet,” said EVgo CEO Cathy Zoi. “As a preferred charging solutions provider for GM’s new fleet program. We will continue to provide fleet operators with the charging solutions from L2 through 350kW charging they need to go electric at scale.”

About EVgo

EVgo (NASDAQ: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 65 metropolitan areas across 34 states and more than 250,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

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¹ Based on EVgo network data

View source version on businesswire.com: https://www.businesswire.com/news/home/20210715005868/en/

FAQ

What is the significance of GM partnering with EVgo?

GM has named EVgo a preferred provider for its Ultium Charge 360 fleet service, enhancing access to electric vehicle charging solutions.

How many charging locations does EVgo have?

EVgo operates over 800 public fast charging locations across the United States.

What is GM's investment plan for EVs?

General Motors plans to invest $35 billion in electric vehicles and autonomous vehicles by 2025.

What benefits does EVgo offer to fleet customers?

EVgo provides comprehensive charging solutions, program discounts, and ensures high reliability with a 98% uptime.

What does the Ultium Charge 360 fleet service include?

It offers tailored turnkey solutions for fleet electrification, from planning to equipment provisioning and ongoing maintenance.