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 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 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.
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.
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.