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. develops and operates public fast-charging infrastructure for electric vehicles in the United States. Company news commonly covers quarterly revenue and charging-network performance, network throughput, stall deployments, and additions of connector types such as NACS. Updates also address site-host relationships with retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies.
EVgo announcements also describe fleet-charging solutions, prefabricated charging equipment, interoperability testing through its Innovation Lab, and financing or leadership developments tied to expansion of the charging network.
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.
Summary not available.
EVgo Inc. has appointed Tanvi Chaturvedi as its new Chief Revenue Officer, aiming to enhance the charging experience for electric vehicle users. With a strong background in technology and consumer products, including leadership roles at Google and Procter & Gamble, Chaturvedi will oversee revenue growth, marketing, and the expansion of services like the PlugShare app. Under her leadership, EVgo aims to increase its market presence and drive customer-first initiatives, leading to an improved user experience across its extensive fast-charging network.
EVgo, the largest public fast charging network in the U.S., will announce its Q3 2022 financial results on November 2, 2022, after market close. A conference call will follow at 5:00 PM ET, accessible via webcast or phone. EVgo provides charging solutions powered by 100% renewable energy and has over 850 fast charging locations across 30 states. The company aims to facilitate the mass adoption of electric vehicles through partnerships and innovative services.
EVgo has inaugurated a new fast charging station in Oakland, California, strategically located at 519 Lake Park Avenue near Lake Merritt. This station features six 200kW fast chargers, enabling electric vehicles to charge up to 80% in 15-45 minutes. The addition expands Oakland's EV infrastructure, now totaling 235 public chargers, aimed at facilitating greater access to electric vehicle charging for residents, particularly those in rental apartments. This initiative aligns with Oakland's Zero Emission Vehicle Action Plan, targeting a fully zero-emission transportation system by 2045.
EVgo has partnered with Warner Bros. to promote the film BLACK ADAM, offering customers a $5 Fandango Promotional Code after charging at EVgo stations. This limited-time offer runs from October 11, 2022, to November 20, 2022, and requires a charging session of at least 20 minutes on a DC fast charger or 6 hours on an L2 charger. EVgo, the largest public fast charging network in the U.S., has over 850 fast charging locations and promotes its commitment to renewable energy.
EVgo has formed a new partnership with WinCo Foods to install fast chargers at several locations across the Western US. The first charging station opened in Las Vegas, Nevada, featuring 350kW and 100kW fast chargers that cater to four stalls. This collaboration is part of EVgo's strategy to enhance electric vehicle infrastructure and accessibility. Future installations are planned in states including California, Texas, and Arizona. Notably, EVgo operates the largest public fast charging network in the nation, powered by 100% renewable energy since 2019.