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.
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EVgo Inc. has announced a proposed award of
EVgo reported significant growth in its Q4 2022 financial results, with revenue rising to $27.3 million, a 283% increase year-over-year, and a full-year revenue of $54.6 million, up 146% compared to 2021. Network throughput reached 14.4 GWh in Q4, marking a 76% increase from the previous year, and overall customer accounts surpassed 553,000. Despite these gains, the company faced net losses of $17.0 million in Q4 and $106.2 million for the year. EVgo plans to expand its network, aiming for 3,400-4,000 DC fast charging stalls by year-end 2023, while introducing guidance for total revenue between $105 to $150 million.
EVgo (NASDAQ: EVGO) has launched a promotional campaign in collaboration with Warner Bros. Pictures for the film Shazam! Fury of the Gods. Starting March 17, 2023, customers can earn 250 bonus EVgo Rewards points by sharing a selfie at specially branded EVgo charging stations in major U.S. cities like Los Angeles, San Francisco, Seattle, San Diego, and Denver. The EVgo Rewards program allows users to accumulate points for charging and social media interactions, redeemable for charging credits. This initiative aims to enhance customer engagement and promote EVgo's loyalty program.
EVgo Inc. (Nasdaq: EVGO) has announced it will report its fourth quarter and full year 2022 results on March 30, 2023, hosting a conference call at 8:00 a.m. PT / 11:00 a.m. ET. The company confirmed it holds no cash deposits in Silicon Valley Bank and expects to meet its previously provided financial guidance for 2022. Interested parties can access the live webcast via the Investor Relations page on EVgo's website. EVgo operates a significant network of fast charging stations powered by 100% renewable energy and aims to facilitate the adoption of electric vehicles.
EVgo (Nasdaq: EVGO) has announced a strategic reorganization to enhance its operational focus for 2023, prioritizing expansion of its public charging network and infrastructure projects. The company expects to achieve 2022 results within earlier provided guidance and will present its earnings on March 15, 2023. A recent Delaware Chancery Court ruling validated its capital structure, addressing previous uncertainties. Despite reducing headcount by approximately 40 employees, EVgo aims to improve efficiency by optimizing its cost structure while hiring in key operational roles to meet rising demand for electric vehicle charging.
EVgo Inc. (NASDAQ: EVGO) announces the expansion of its digital coupon platform, EVgo Advantage, to select Cumberland Farms and Wawa locations across several East Coast states, including Massachusetts, Connecticut, New York, Pennsylvania, Maryland, Virginia, and Florida. This program delivers on-the-spot promotions to enhance the charging experience for EV drivers, as a 2022 EVgo survey found that 87% of EV drivers shop at local retailers while charging. Launched in 2019, EVgo Advantage aims to increase customer engagement and foot traffic, showcasing EVgo's commitment to enhancing the EV charging landscape.
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