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EVgo Inc. (Nasdaq: EVGO) is a prominent leader in the electric vehicle (EV) charging industry, operating one of America’s largest public EV fast charging networks. EVgo’s mission is to accelerate the mass adoption of electric vehicles through its extensive network that spans across more than 35 states, featuring over 1,000 fast charging locations. The company prides itself on owning, maintaining, and operating all of its stations, providing a seamless and reliable charging experience for EV drivers.
EVgo’s fast chargers are eight times faster than conventional Level 2 chargers, with its DC fast chargers offering 50kW power that can be upgraded to 350kW. This enables EVgo to cater to all electric vehicle models currently available in the US, making it a versatile and accessible choice for a wide range of EV users. Additionally, the company offers over 350 Level 2 chargers to complement its fast charging network.
EVgo partners with a variety of entities including national and regional chains of grocery stores, automotive original equipment manufacturers, hotels, shopping centers, gas stations, parking lot operators, local governments, and independent property owners. These partnerships help EVgo strategically locate and deploy its EV charging infrastructure, ensuring optimal accessibility and convenience for users.
Recent achievements highlight EVgo’s continuous growth and innovation in the sector. In Q1 2024, EVgo, in collaboration with SLB Capital Advisors, executed four significant sale leaseback transactions valued at approximately $27 million for properties in Los Angeles, Santa Monica, San Diego, and Brooklyn. These properties will feature fast charging stalls owned and operated by EVgo, marking a strategic expansion in key urban markets. This move not only underscores EVgo's commitment to enhancing charging infrastructure but also introduces sale leaseback as a viable financing tool within the renewable energy space.
Moreover, EVgo has partnered with Toyota Motor North America to install high-power 350kW chargers in underserved communities such as Baldwin Park and Sacramento, California. This initiative, aimed at promoting equitable EV charging access, is part of Toyota's
EVgo Inc. (NASDAQ: EVGO) has announced an expansion of its EVgo Advantage program in partnership with The Save Mart Companies, adding promotions for drivers at 12 locations across California. This initiative, which began in 2019, aims to attract more customers to grocery stores while charging their electric vehicles. EVgo's survey indicates that 80% of EV drivers tend to shop while charging, leading to increased foot traffic. The program is designed to enhance customer loyalty and support sustainability efforts within the community.
EVgo, the largest public fast charging network for electric vehicles, announced it will release its fourth quarter and full-year 2021 financial results on March 23, 2022, before market open. A conference call will follow at 11:00 AM ET, offering a live webcast for investors. EVgo operates over 800 fast charging locations across 35 states, serving more than 310,000 customers. With a focus on renewable energy, EVgo partners with various stakeholders to enhance transportation electrification and improve the EV charging experience.
EVgo has opened its first public fast charging station at a Wawa store in Philadelphia, Pennsylvania. This new station features four charging stalls with two 100 kW fast chargers and one 350 kWh fast charger, allowing simultaneous charging. As the sixth EVgo site at Wawa, this station aims to enhance EV accessibility in urban areas. Built with collaboration from General Motors and supported by state initiatives, EVgo is set to expand its infrastructure to meet Pennsylvania's sustainability goals.
Rhythm Energy has launched the Simply Drive energy plan in collaboration with EVgo, providing Texans with a renewable energy option that also offers $100 in charging credits for EVgo's fast charging network. This plan supports 100% renewable energy sources and aims to cater to the growing demand for electric vehicles in Texas. Customers will benefit from a fixed-rate energy plan powered by clean energy while gaining access to more than 46,000 charging locations nationwide. The partnership highlights a commitment to affordable, sustainable energy solutions.
EVgo Inc. (NASDAQ: EVGO) has launched a new public fast charging station in Seattle, Washington, featuring two 100 kW chargers. This initiative aligns with Washington's goal of having 1 million electric vehicles (EVs) by 2030 and supports EVgo's 'Electric for All' mission to provide equitable access to charging infrastructure. Currently, the EVgo network boasts over 800 fast charging sites and more than 1,200 Level 2 charging stalls across 35 states. The new station was developed in partnership with Nissan, enhancing EV access in the Seattle metro area.
EVgo Inc. has entered a commercial agreement with Toyota Motor North America to offer drivers of the new Toyota bZ4X battery electric SUV one year of complimentary charging at EVgo’s nationwide network of public fast chargers. This partnership, aimed at enhancing the EV ownership experience, marks a significant move in fostering EV adoption across the U.S. EVgo operates over 800 charging locations and plans to deploy approximately 16,000 fast charging stalls by 2027.
In 2022, Toyota introduced the 2023 bZ4X electric SUV, partnering with EVgo to enhance customer experience by providing one year of unlimited complimentary charging at EVgo’s network of fast charging stations. This collaboration aims to support Toyota's goal of electrifying 70% of its fleet by 2030, ensuring customers have convenient access to charging while they shop or conduct errands. EVgo operates over 800 fast charging locations powered by 100% renewable energy, making it a leader in clean transportation.
EVgo (NASDAQ: EVGO) has released a guide titled “Best Practices for Charging Infrastructure Funding Program Design” to assist state Departments of Transportation in leveraging the $5 billion National Electric Vehicle Infrastructure Program (NEVI). This guide, part of EVgo's “Connect the Watts” initiative, outlines five key principles for effectively managing funds and expediting EV infrastructure development. EVgo emphasizes the importance of public-private collaboration to maximize federal funding for electrified transportation in the U.S.
EVgo Inc., the largest public fast charging network in the U.S., has been selected as the preferred charging partner for Subaru of America in conjunction with the launch of the all-new 2023 Subaru Solterra, Subaru's first all-electric SUV. EVgo offers access to over 800 fast charging locations and 1,200+ Level 2 charging stalls across 68 metropolitan areas and 35 states, all powered by renewable energy. The partnership enhances charging convenience for Subaru drivers, promoting zero-emission driving with 24/7 customer support.
EVgo Inc. (NASDAQ: EVGO) has launched its first public fast charging station in partnership with Meijer, marking a significant expansion of EVgo's charging infrastructure. Located in key Midwestern cities in Michigan and Ohio, these stations support fast charging capabilities ranging from 100 kW to 350 kW. With over 800 fast charging locations and more than 310,000 customer accounts, EVgo continues to lead in the electric vehicle market. This partnership aligns with regional efforts to promote EV adoption and sustainability.
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