Welcome to our dedicated page for Evgo news (Ticker: EVGO), a resource for investors and traders seeking the latest updates and insights on Evgo stock.
EVgo Inc. (NASDAQ: EVGO) is one of the nation’s largest providers of public fast charging infrastructure for electric vehicles, and its news flow reflects ongoing developments across its charging network, partnerships and financing activities. This page aggregates company news so readers can see how EVgo is expanding its footprint, enhancing technology features and reporting on financial performance.
Recent press releases highlight EVgo’s collaboration with the Kroger Family of Stores to deploy additional high-power fast charging stalls at grocery locations across multiple states, enabling customers to charge while they shop. Other announcements cover the EVgo eXtend network developed with Pilot Company and General Motors, which brings fast charging to Pilot and Flying J travel centers along major interstate corridors, and the use of domestically manufactured prefabricated charging skids to speed station deployment and integrate features such as Wi-Fi infrastructure, lighting, security cameras and canopies.
EVgo’s news also includes updates on technology and customer experience, such as milestones for its Autocharge+ feature that allows compatible EVs to begin charging simply by plugging in after a one-time enrollment. Financial news items report quarterly results, network throughput, customer account growth and details of a senior secured, non-recourse credit facility intended to fund the construction, installation, deployment and operation of additional fast charging stalls nationwide.
Investors, EV drivers and industry observers can use this news feed to follow EVgo’s announced station openings, network expansion plans, partnerships with retailers and automakers, and key financial disclosures. Returning to this page provides a consolidated view of how EVgo communicates its progress and priorities in the public fast charging market.
EVgo Inc. (NASDAQ: EVGO) has announced the inaugural National EV Charging Recognition Program, honoring ‘EV Charging Heroes’ for their commitment to EV charging infrastructure deployment. Celebrated leaders include site hosts, utilities, and contractors recognized for their contributions. The award ceremony will take place virtually on January 19 at 11 a.m. PT. Notable awardees include Sterling Organization, PSE&G, and OWL Services. CEO Cathy Zoi emphasized the importance of collaboration in supporting EV adoption and recognized the significant efforts by awardees to enhance public fast charging networks. EVgo aims to publicize the recognition criteria for future awards.
EVgo Inc. has launched EVgo ReNew, an enhanced maintenance program aimed at improving the reliability of its charging stations. This program will upgrade or retire hundreds of charging stations over the next year, enhancing charger availability for electric vehicle (EV) drivers. The initiative focuses on six core pillars including diagnostics, rapid response, and continuous customer service. As of 2022, EVgo upgraded or removed 125 charging stalls and aims for further enhancements in 2023.
EVgo has partnered with Amazon to enhance the EV charging experience through Alexa. This collaboration allows drivers to find, navigate to, and pay for charging stations using voice commands. The integration will utilize PlugShare to provide a comprehensive charging map and real-time availability. EVgo aims to improve convenience for electric vehicle owners and supports Amazon's commitment to climate goals. The partnership expands access to over 150,000 U.S. public charging stations and builds on EVgo's recent innovations, including the Autocharge+ feature.
EVgo has launched a discount program for Lyft drivers to promote electric vehicle (EV) adoption. This initiative demonstrates their commitment to enhance access to fast charging solutions. Drivers can save up to 45% on charging costs and enjoy waived monthly fees at over 850 EVgo locations nationwide. The program is part of a broader strategy to transition rideshare vehicles to electric and reduce emissions. Cathy Zoi, EVgo's CEO, emphasizes the role of rideshare drivers in community electrification efforts.
EVgo (NASDAQ: EVGO) has opened a new public fast charging station at Marina Square Shopping Center, San Leandro, California, supported by the California Energy Commission and Uber. The facility features 100kW and 350kW chargers, serving up to four vehicles simultaneously. This station enhances EV charging access for rideshare and retail drivers in the Bay Area, crucial for high-demand areas like near Oakland International Airport. EVgo's network now includes over 850 locations nationwide, aiming to provide efficient charging options for all EV drivers.
EVgo has announced a collaboration with Subaru, enabling drivers of the 2023 Solterra EV SUV to receive a $400 charging credit for using EVgo's public fast charging network. This agreement reinforces Subaru’s commitment to enhancing the EV ownership experience, allowing customers to either redeem the charging credit or receive a home charger installation credit. EVgo operates over 850 fast charging locations across the U.S., offering a comprehensive network for electric vehicle drivers, powered by 100% renewable energy.
EVgo has launched a new electric vehicle fast charging station at Brookdale ShopRite in Bloomfield, NJ, featuring charging from 100kW to 350kW for up to four vehicles simultaneously. Supported by the PSE&G Electric Vehicle Charging Program, this initiative aims to enhance access to EV charging in local communities. The ShopRite store recently underwent renovations and is committed to improving customer experiences, including sustainability efforts. EVgo operates over 850 public fast charging locations nationwide, powered by 100% renewable energy.
EVgo Inc. (NASDAQ: EVGO) recently introduced a new promotional charging plan for Tesla Model S, 3, X, and Y drivers, featuring Autocharge+ technology. This service is accessible at nearly all EVgo DC fast charging stations using the CCS Combo 1 Adapter. The promotional plan includes a free three-month trial of the EVgo Plus subscription, which allows for lower charging rates and free reservations at select locations. This offer is valid until December 31, 2022, and aims to enhance the charging experience for Tesla users.
EVgo reported a significant revenue growth of 70% year-over-year in Q3 2022, achieving $10.5 million in revenue, driven by increased retail charging and ancillary revenue. Network throughput rose by 51%, totaling 12.1 GWh. The company added 188 new stalls and approximately 54,000 new customer accounts, reaching 498,000 overall. However, EVgo posted a net loss of $50.9 million and a gross loss of $3.2 million. For 2022, revenue guidance remains at $48-$55 million, with an updated stall target of 2,800-3,100 by year-end.
EVgo has partnered with MHX, a logistics operator in California, to support their fleet electrification project. The collaboration includes deploying EVgo fast charging infrastructure at MHX's Fontana location, featuring high-power 350kW chargers capable of serving multiple vehicles simultaneously. This initiative is backed by 24/7 support and is partially funded by California grants aimed at promoting zero-emission vehicles.
MHX will also introduce 10 new electric trucks to their fleet, enhancing their operations across California's logistics network.