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 announces the opening of its first fast charging station in Hagerstown, MD, funded through Maryland's Appendix D settlement fund. Located at Valley Park Commons, the station features four charging stalls with two 100 kW and two 350 kW fast chargers. This opening is part of Maryland's effort to reduce greenhouse gas emissions by 50% by 2030. The station was built in partnership with Nissan and supported by the Electric Corridor Grant Program. The ribbon-cutting ceremony is scheduled for April 25 at 10 a.m. ET.
Chase announced a partnership with EVgo to install public fast electric vehicle charging stations at 50 U.S. branch locations starting this summer. This initiative aims to enhance environmental sustainability, aligning with Chase's goal to expand on-site solar power to an additional 400 branches by the end of 2022. The chargers, powered by 100% renewable energy, are expected to deliver up to 9.4 million kWh annually, equating to nearly 30 million EV miles. This strategic move addresses the growing demand for EV infrastructure as the U.S. aims for 145 million electric vehicles by 2030.
EVgo Inc. (Nasdaq: EVGO), a leader in fleet electrification and the largest public fast charging network in the U.S., announced investor meetings scheduled from April 4 to April 8, 2022, in Europe. The meetings will include senior management team members, such as CEO Cathy Zoi. An updated investor presentation will be available on their investor relations website before the meetings. EVgo operates over 850 charging locations across 30 states, serving around 340,000 customers, all powered by 100% renewable electricity.
EVgo has been awarded over $3.6 million in proposed grants from the California Energy Commission (CEC) to develop 72 new fast charging stalls across California, benefiting rideshare drivers. The initiative, in partnership with Uber, aims to enhance EV infrastructure access in rideshare-dense areas, particularly in Los Angeles and the Bay Area. The new stations will feature fast charging capabilities up to 350 kW, promoting the adoption of electric vehicles and supporting cleaner transportation. This project aligns with California's Clean Miles Standard goals.
EVgo Inc. reported significant growth in 2021, achieving a 52% revenue increase to $22.2 million and a 68% rise in network throughput to 26.4 GWh. The company ended the year with approximately 340,000 customer accounts, marking an 80% share of non-Tesla US EV sales. Adjusted gross profit surged to $5.2 million, while the GAAP gross loss narrowed to ($6.8 million). EVgo aims for revenue of $48-$55 million in 2022, targeting 3,000-3,300 charging stalls operational or under construction. Recent partnerships with Toyota and Subaru bolster its market position.
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. 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.