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.
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EVgo Inc. has announced a proposed award of $6.6 million from the California Energy Commission’s CALeVIP 2.0 program, aimed at expanding fast charging infrastructure across central and eastern California. This funding supports the Golden State Priority Project, focusing on disadvantaged and low-income communities. EVgo plans to deploy over 100 DC fast charging stalls featuring 350kW chargers at 17 locations, including Fresno and San Jose, enhancing accessibility and convenience for EV users. The company emphasizes its commitment to equitable charging solutions and public-private partnerships to promote rapid EV adoption.
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.