Merchants Fleet and EVgo Announce Partnership to Expand EV Charging Accessibility for Fleets

Rhea-AI Summary

Merchants Fleet has partnered with EVgo to enhance fleet electrification efforts, utilizing EVgo's extensive fast-charging network powered by 100% renewable energy. This collaboration allows Merchants Fleet clients access to comprehensive charging solutions, including over 800 fast charging stations and 1,200+ Level 2 locations, ensuring reliability with more than 98% uptime. Merchants Fleet commits to converting 50% of its mobility fleet to electric by 2025, backed by a $2B inventory allocation, to further its sustainability goals.

Positive

• Partnership with EVgo enhances electrification solutions for clients.
• Access to over 800 fast charging stations and 1,200+ Level 2 locations.
• Reliability of charging solutions with over 98% uptime.
• Commitment to converting 50% of its mobility fleet to electric by 2025.

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• None.

HOOKSETT, N.H., Oct. 21, 2021 /PRNewswire/ -- Merchants Fleet, the nation's fastest growing fleet management company, announced today a partnership with EVgo (Nasdaq: EVGO), a first mover in fleet electrification and owner and operator of the country's largest public fast-charging network for electric vehicles (EVs) and first powered by 100% renewable electricity. EVgo will provide a full range of solutions including infrastructure planning, hardware, software, O&M and infrastructure deployment services to Merchants Fleet clients to support the electrification of fleets nationwide. 

"Charging and infrastructure is the foundation of every EV transition plan and bringing EVgo into the Merchants ecosystem allows our clients to take real, tangible steps toward making their EV plans a reality," says Brendan P. Keegan, CEO of Merchants Fleet. "This partnership gives Merchants Fleet clients access to an expanded network of best-in-class charging solutions and allows us to help push the needle forward on sustainability through fleet electrification."  

The new partnership is the first of its kind for EVgo, and gives Merchants Fleet clients the ability to leverage a combination of depot charging solutions, dedicated charging networks and EVgo's public network comprised of over 800 fast charging and 1,200+ Level 2 locations. EVgo's locations bring the reliability of more than 98% uptime and deep coverage in urban core areas, with its solutions backed by superior 24/7 customer support that further reinforces convenience, safety and interoperability for EV fleets.

EVgo provides a variety of flexible Level 2 and DCFC charging solutions for light, medium, and heavy-duty fleets, designed to meet their unique operational needs. EVgo's fleet solutions include a complete solution set of hardware, design, engineering and construction of charging facilities and fleet transition planning and support including software, operations, networking, and maintenance functions and capabilities supporting holistic cost-saving and optimization for fleet operations. 

"EVgo has been building a track record as the partner-of-choice for fleet electrification. Reliable and flexible charging will be essential to how fleets operate their business in the all-electric future," said Cathy Zoi, CEO of EVgo. "We applaud Merchants for their industry leadership and look forward to working together to streamline the fleet electrification process and build a new future for transportation."

In early 2021, Merchants launched its innovative Adopt EV program, designed to help guide businesses through each step of the fleet electrification process—from assessing needs to purchasing the right vehicles, to charging options and infrastructure support. The company has committed more than $2B in inventory allocation toward having 50% of its mobility fleet electric by 2025 and 50% of its clients' fleet electric by 2030, and as part of its ESG strategy, Merchants installed EVgo charging ports at its corporate headquarters for employee and client use. 

About Merchants Fleet 
Merchants Fleet is the nation's fastest growing fleet management company, providing flexible funding and service options for organizations that leverage vehicles to run their operations, serving as a single source for all vehicle needs, including electric vehicles. From financing and charging to maintenance and remarketing, Merchants has collaborated with dozens of OEMs, charging, data and upfit partners to ensure every client is connected to the service, technology platforms, and products that will support their fleet in making the transition to EV. Merchants Fleet is headquartered in Hooksett, New Hampshire, and its Innovation Center is located in the Chicago, Illinois area.  

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 68 metropolitan areas across 35 states and more than 300,000 customer accounts. 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. 

Merchants Fleet Contact:  
Matt Conroy  
Mconroy@stantonprm.com 
646-502-3563 

EVgo Contact:  

For Investors:
Ted Brooks, VP of Investor Relations
investors@evgo.com
310-954-2943

For Media:
press@evgo.com 

 

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SOURCE Merchants Fleet

FAQ

What is the significance of the partnership between Merchants Fleet and EVgo?

The partnership enhances fleet electrification by providing Merchants Fleet clients with access to a vast network of fast and reliable charging solutions.

How many charging locations does EVgo offer in collaboration with Merchants Fleet?

EVgo offers access to over 800 fast charging stations and more than 1,200 Level 2 charging locations.

What is EVgo's uptime performance for their charging solutions?

EVgo's charging solutions boast a reliability rate of over 98% uptime.

What are Merchants Fleet's electric vehicle goals?

Merchants Fleet aims to convert 50% of its mobility fleet to electric vehicles by 2025.

What type of energy powers EVgo's charging network?

EVgo's fast-charging network is powered by 100% renewable energy.