EVgo Services LLC (EVGO)

[WeTheMarket]

EVgo Shares Should Be Trading at $20 in 2022
The weakness in EVGO stock is temporary as EV charger and related app adoption grows quickly
2h ago · By David Moadel, InvestorPlace Contributor
https://investorplace.com/2022/01/evgo-stock-shares-should-be-trading-at-20-in-2022/


EVgo fast charging station

As the U.S. infrastructure bill passed last year, investors’ interest in companies like charging-station manufacturer EVgo (NASDAQ:EVGO) surged. Since the bill included funding for the build-out of electric vehicle (EV) charging networks, a long position in EVGO stock seemed like a sure winner.

Yet, there’s no such thing as a sure winner in the stock market. From mid-November onwards, EVgo was a no-go as the share price was literally cut in half.

As we’ll see, EVGO stock reached a critical resistance level before tumbling. Resistance levels are meant to be broken, though, especially when a stock represents a high-conviction business in a growing market sector.

The data will show that EVgo’s business model, which involves both EV chargers and related apps, has been highly successful. Hence, if there’s a mismatch between the share price and the company’s true value, then contrarian investors should be ready to take advantage of this opportunity.

A Closer Look at EVGO Stock
Going back to the beginning, EVGO stock debuted on July 2, 2021, opening its first trading session at $15.

Oddly enough, the stock wasn’t a big hit on Wall Street at first. In fact, the share price sank to $7 and change in September.

As the U.S. infrastructure bill garnered attention in the news headlines, however, EVGO stock staged a swift recovery. In November, the stock touched the $20 level, though this rally was short-lived.

Consequently, traders had another chance to load up below $10 in early January 2022. This leaves open the possibility of a share-price doubling – no guarantees, of course, but the stock has reached $20 before and it could happen again soon.

An App-Enhanced Revolution
In order to get Millennials and Zoomers on board with the vehicle electrification movement, it’s necessary to use smartphone technology.

For young people, that means providing downloadable apps to help them stay in the loop in the EV community. Thus, EVgo has been aggressive in leveraging mobile apps to promote the company’s products.

Not long ago, EVgo subsidiary Recargo announced that the PlugShare platform – touted as the world’s largest EV community – surpassed 1 million app downloads since the start of 2021.

PlugShare is a platform used by EV drivers to locate and select public chargers. It’s also a social app, though, as the users can share their experiences and feedback around specific locations with other drivers.

As EVgo CEO Cathy Zoi explained, “EV adoption requires more than cars—it requires great cars, reliable charging, and excellent software.”

Moreover, Zoi remains optimistic as “this 1 millionth [PlugShare] annual download milestone is one of many as EV growth proliferates.”

Progress in California
Meanwhile, there’s more positive news afoot as EVgo continues to advance California’s EV infrastructure build-out.

EVgo has a history of installing EV charging infrastructure in the state, including the first chargers in the cities of Compton and Inglewood.

Believe it or not, more than 80% of Californians live within a 10-mile drive of an EVgo fast charger. And, that number is likely to increase soon.

That’s because EVgo has been selected by the State of California for proposed awards of $1.7 million in grant funding. The proposed funding would be used to establish 38 new D.C. fast-charging stalls at five locations.

These financial awards are to be granted by the California Air Resources Board through the Bay Area Air Quality Management District. All of the targeted sites will include power-sharing and power-routing 350-kilowatt fast chargers. These, reportedly, will be capable of charging most vehicles up to 80% in 15 to 45 minutes.

These new EV charging sites “will help enable Californians across neighborhoods and income levels take advantage of the benefits of driving electric,” according to EVgo Chief Commercial Officer Jonathan Levy.

The Bottom Line
No one can promise that EVGO stock will return to $20. Yet, the circumstances are favorable for an imminent rally.

EVgo is forward-thinking in its use of apps to bring more young drivers into the fold. Besides, California is a mecca of vehicle electrification and EVgo is clearly a favored business for the state’s EV infrastructure build-out.

So, it looks like there’s a mismatch between the EVGO stock price and the company’s thriving business. Therefore, investors should brace for a possible share-price doubling in 2022.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com

[WeTheMarket]

Evgo Hires Technology Infrastructure Industry Veteran
Addition to management team bolsters EVgo’s efforts to scale EV charging solutions to meet growing demand
LOS ANGELES – January 5, 2022
https://www.conferencecalltranscripts.com/summary/?id=10290767

(Nasdaq: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and only platform powered by 100% renewable electricity, today announced the appointment of Dennis Kish as Chief Operating Officer (COO), effective January 2022. Kish brings over 30 years of experience in the high technology and infrastructure sectors, and as EVgo’s COO he will oversee all charger installation activities related to contractual commitments and public and fleet network expansion, including site development, engineering and construction, and contract management. Kish will also lead EVgo’s asset management, field operations, and customer care functions – all of which support the company’s deployment and network throughput growth targets.

Prior to joining EVgo, Kish served in numerous leadership roles including President of Google Fiber, where he oversaw the development of distributed fiber optic networks across the country to directly serve US consumers. In addition, he previously held positions as Senior Vice President & General Manager at both Qualcomm and NXP, delivering billions of semiconductor chips to the wireless market segment throughout his tenure. A graduate of Michigan State University with a Bachelor of Science degree in Electrical Engineering, Kish has lived and worked in North America, Europe and Asia, holding several roles that focused on operational responsibilities including infrastructure engineering and construction, manufacturing, supply chain management, quality, and program management.

“Having a dedicated executive with Dennis Kish’s experience in infrastructure and technology will further bolster EVgo’s leadership in scaling operations, deploying larger sites for our public network and fleet customers, and in maintaining best-in-sector uptime and reliability,” said Cathy Zoi, CEO of EVgo. “Dennis has been in the trenches and in the C-suites: he understands the challenges of high growth, capital-intensive technology infrastructure businesses and has a track record of creatively addressing ecosystem friction to speed deployments and deliver customer satisfaction. I am delighted he’ll be bringing that experience to bear to the EV charging sector at EVgo.”

Throughout his career, Kish has specialized in implementing operational efficiency in rapidly scaling teams while simultaneously ensuring category-leading customer satisfaction. As COO, Kish will leverage his expertise to further strengthen EVgo’s charging network, focusing on streamlining installation and further enhancing reliability. Kish has deep experience in managing the complexities of rapid infrastructure deployment across various state and local jurisdictions and can build upon EVgo’s Connect the Watts™ initiative.

“EVgo is already a market leader. I look forward to applying my experience to help scale and extend EVgo’s infrastructure footprint and enhance its reputation for reliability to new heights. The rapid growth in the EV space requires coordination and collaboration between a variety of stakeholders – internal and external. I’m thrilled to take on the challenge and support EVgo’s mission to accelerate transportation electrification,” added Kish.

For more information around the locations of EV chargers within the EVgo charging network, visit www.evgo.com.

About EVgo
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 310,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

Contacts
For Investors:
Ted Brooks, VP of Investor Relations
[e-mail]
310-954-2943
For Media:
[e-mail]

[WeTheMarket]

EVgo: On Track To Be The New Gas Station
Jan. 02, 2022 7:11 AM ET, Sandis Weil
https://seekingalpha.com/article/4477577-evgo-stock-valuation-very-bullish?utm_campaign=twitter_automated&utm_content=article&utm_medium=social&utm_source=twitter_automated

Summary
- EVgo has had a relatively wild time since I last covered the stock in August, the stock shot up over 100% in November and has now come down to earth.
- The company's financing has helped fuel revenue growth.
- Operations and partnerships have expanded to new OEMs.
- Risks are lower given current macroeconomic conditions.
- Valuation is strong given peers' technology.

Background
EVgo (NASDAQ:EVGO) has been on a roll throughout 2021. I previously wrote about the charging station conglomerate in August and since then it has performed nicely. EVgo's price rose from $9 to $18 within 6 days of November. Since then the company's stock has slowly made its descent back down to earth just below $10. This rocky ride may have shook the less risk tolerant investor, but to be a successful long term growth investor, you need to be able to withstand massive stock swings.

Recent strategic initiatives have highlighted recently quarterly reports. EVgo's management has been very active in pursuing partnerships and deals with larger OEMs. I also believe the potential revenue from a high margin fleet management SaaS platform would be instrumental to future profitability. The economics of EVgo's charging stations have not represented the least expensive per unit product. A SaaS platform would enable EVgo the financial flexibility to dive deep into the charging station supply chain and make changes as necessary. Looking forward I believe EVgo is in a great position to benefit from the consumers' infatuation with electric vehicles.

EVgo has Strong Earnings Momentum
Strong earnings have characterized EVgo's past couple of quarters. The strong revenue growth will soon be factored into the stock valuation. Many investors are still on the sidelines waiting to see who leads the electric charging industry. I believe it will be a smaller player like EVgo because they have the sole focus on expanding charging station operations.

Revenue growth of 29% QoQ is a very strong number for this otherwise cash-stricken company. I believe the economics of EVgo could greatly expand if they are able to land large fleet contracts for their Optima program. The potential recurring subscription based revenue would be a great revenue vertical to add to the growing company. This business unit could later be spun off or expanded. Either option would be a great way for EVgo to generate cash to support their operations.

EVgo's revenue breakdown shines the light on the true nature of their revenue stream. Many people don't realize that regulatory credits can make up a good portion of a clean energy company's revenue. Many governments around the world give these credits out to clean energy leaders to stimulate business. The US has historically been very liberal with these credits and has handed them out to many unproven IPOs not just conglomerates like SolarEdge (NASDAQ:SEDG) and Enphase Energy (NASDAQ:ENPH).

I am surprised that EVgo's revenue mix is not dominated by charging. The company's new unit Optima, the fleet management solutions tool, currently makes up 5-10% of revenue. Moving forward as these fleet solutions become more crucial to OEM success, more and more corporations will enter into long term deals with the Optima team. The regulatory credits from states such as California represent 10% of revenue. This is key to expanding their business because it gives EVgo a fallback if certain endeavors don't pan out. Starting a unit such as Optima brings risks, but the low input cost and high output makes such ventures worthwhile.

Operations have Expanded Due to Strategic Initiatives
Strategic initiatives have been key in expanding EVgo's total addressable market. Currently EVgo has very steady charging operations which accounts for 65% of current revenue. I would look for that number to decline as Optima and the network business becomes more important due to the large number of players trying to enter the charging business. These companies will only have one vendor for electric fleet management. Optima can become a major part of EVgo as their business will be in high demand moving forward.

EVgo has been very diligent in improving their customer base. The company has managed to almost 3x new customer YoY. I believe this is very encouraging as more people buy electric vehicles EVgo's customers will only increase. Long term customer retention will be the most important piece of EVgo's puzzle as they will need to find a way to sustain a competitive advantage over ChargePoint (NYSE:CHPT) and Blink Charging (NASDAQ:BLNK).

EVgo has been increasing guidance due to increasing sales guidance. The 400 new stalls this quarter were strategically placed in major cities that have a high density of electric vehicles. EVgo knows their audience and where they refuel. Having this insight will be crucial because for EVgo to become the new gas station they need to be able to scale efficiently and reliably.

Risks are Lower due to the Macroeconomic Environment
As electrification becomes more pronounced on the US governments radar the risks to the charging industry lessens. The already large subsidy offerings to clean energy companies combined with trillion dollar infrastructure bills give me high conviction on the bright future of the electric vehicles and the charging station industry. EVgo has higher wattage than both ChargePoint and Blink Charging and this fact is not brought up enough. ChargePoint's station wattage is 62.5 kw/hr, Blink Charging's station's wattage goes up to 50 kw/hr, and EVgo's station wattage goes up to 150 kw/hr. EVgo's fundamental wattage advantage will force many gas station owners to pick their charging station. Overall the electrification goals of the current white house will remain a very strong tailwind for EVgo for years to come.

Valuation is Solid Given Peers
EVgo has a solid valuation given the immense upside potential of the stock. I believe that EVgo is a better buy than both ChargePoint and Blink Charging. This is due to EVgo's superior product lineup and pipeline. Moving forward EVgo has the best opportunity to dominate the US charging station market.

EPS is one of the most important indicators for a company's success. EVgo has the best opportunity to expand their EPS out of all the current US charging station operators. I believe that EVgo's lead will further as Optima becomes a more important portion of EVgo's earnings mix.

Looking at a more historic indicator like EV/Sales can be a great way to value a new company. Looking at EVgo's EV/Sales ratio relative to its peers, it's clear to see that EVgo has an expanded valuation. This is due to higher analyst expectations from the stock due to their superior network and product capability.

Conclusion and Rating
I have been long EVgo since August and I continue to recommend investors accumulate EVgo shares. Moving forward the financial situation should help EVgo be self sufficient once the company reaches profitability. Operations and strategic initiatives have been important in curating new business opportunities. Optima is a great way to play the clean energy market and could help EVgo deliver profitability targets before expectations. Overall I remain Very Bullish on EVgo and look forward to reading more material about the company.

[Scotttrader80]

They always do, retail doesnt have the power to do anything besides play the play. EVGO and every other company traded has to deal with market makers OR they dont trade.

[Scotttrader80]

Thank you Needham, I'll take more shares off the table once we've found the bottom. $6.00-$7.00's will work

[Raffis]

Needham-is-inside-signaling-to-drop-price-for-lower-entry-point. Ex. “remain on the sidelines until we see convergence between our estimates and consensus and/or a better entry point."
Needham never provided an estimate. This is all public deception and inside signaling.

[Raffis]

Needham “analysis?,”-is-contradicting-ambiguously-preemptive,-misleading/deceptive:
“Needham, however, said Wall Street expectations on the stock were too aggressive and it would "remain on the sidelines until we see convergence between our estimates and consensus and/or a better entry point."

[WeTheMarket]

The US’ first-ever National EV Charging Summit is coming, and it’s free to the public
Michelle Lewis - Dec. 15th 2021
https://electrek.co/2021/12/15/us-national-ev-charging-summit-is-coming-and-its-free-to-the-public/amp/

A coalition of business, labor, and environmental advocacy leaders will host the US’ first-ever National EV Charging Summit on January 20, 2022. Members of the public are invited to attend, and it’s free.

The event will bring together representatives from the Biden administration, vehicle and utility industries, unions, and outside experts to showcase a new level of collaboration supporting the federal commitment to build out a US-wide electric vehicle charging infrastructure.

The virtual event, hosted by the National EV Charging Initiative, will feature conversations about the development and operation of a US-wide EV charging network. It follows President Joe Biden’s signing of infrastructure legislation that includes $7.5 billion to install charging stations along highways and in communities nationwide.

The summit will also spotlight government, industry, and regional collaboration, and corporate commitments that are helping to drive the development of that charging network.

Panels will discuss:
- The numbers and types of EV chargers that will be needed to support scaled EV adoption in the US
- The different needs of different sizes of EV vehicles
- How a national EV infrastructure sector can build inclusive economic growth, increase stable and well-paid jobs, and address the mobility needs of everyone, especially historically underserved communities
- Financing challenges and opportunities to mobilize the private investment needed to scale and deploy EV charging across the US

Panelists include:
- Danielle Eckert, director of government affairs, International Brotherhood of Electrical Workers
- Britta Gross, managing director, mobility, RMI
- Maria Bocanegra, commissioner and chair, National Association of Regulatory Utility Commissioners (NARUC) EV Task Force
- Cathy Zoi, CEO, EVgo
- Jane Hunter, CEO, Tritium
- John Bozella, CEO, Alliance for Automotive Innovation
- Pedro Pizarro, CEO, Southern California Edison
- Andrea Marpillero-Colomina, clean transportation consultant, Green Latinos
- Jigar Shah, US Department of Energy loan programs office director
- Generate Capital chair Richard Kauffman
- Linse Capital founder and managing director Michael Linse

The summit will take place on January 20 from noon to 3:45 p.m. EST.

Registration is free, and click here to register.

[WeTheMarket]

EVgo (EVGO) Initiated with a Hold at Needham
Dec 28, 2021, 07:46 AM, by Christine Brown
https://www.tipranks.com/news/blurbs/evgo-evgo-initiated-with-a-hold-at-needham?utm_source=stck.pro&utm_medium=referral

- EVgo (EVGO – Research Report) received a Hold rating from Needham analyst Vikram Bagri today. The company’s shares closed last Monday at $10.05.

- EVgo has an analyst consensus of Hold, with a price target consensus of $16.80.

- Based on EVgo’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.18 million and net profit of $6.13 million. In comparison, last year the company earned revenue of $3.57 million and had a net profit of $0.

[Raffis]

MARKET-MAKERS-VIOLATE-INSIDER-TRADING-RULES. EVGO MARKET MAKERS ARE TRYING TO STEAL YOUR MONEY, BY HOLDING THE PRICE LOW TO PSYCHOLOGICALLY FRUSTRATE YOU.

[Raffis]

MARKET-MAKERS-ARE-CONTROLLING EVGO STOCK.

[Raffis]

EVGO-MANAGEMENT IS INCOMPETENT AND DECEPTIVE.

[Raffis]

The-Institutions-bought-@-$7.45.

[tw0122]

On sale shares again. Love Nasdaq bubble
Sales. Back in here again today in $10s.

[WeTheMarket]

$20 EVgo Price Prediction Is Actually an Understatement
Even beyond the infrastructure bill, there are plenty of reasons to like EVGO stock now
1d ago · By David Moadel, InvestorPlace Contributor
https://investorplace.com/2021/12/20-evgo-stock-price-prediction-is-actually-an-understatement/

By now, in light of the recently passed U.S. infrastructure bill, you shouldn’t need to be convinced that the electric vehicle revolution is under way. It’s a done deal at this point, and charging-station manufacturer EVgo (NASDAQ:EVGO) seeks to be a major part of this revolution. So, could EVGO stock be poised for a big move?

As we’ll see, one big bank analyst seems to believe that the stock is ready to run. While investors shouldn’t base their trades on one expert’s prediction, it can’t hurt to hear what a respected analyst has to say.

Granted, there’s increasing competition as the EV charging-port market becomes a crowded field. The billion-dollar question, then, is: what sets EVgo apart from the rest?

For one thing, the company has a number of value-added partnerships. Besides, as EVgo quickly builds out its charging-station network, the company is becoming a serious threat to the competition.

A Closer Look at EVGO Stock
EVGO stock debuted on July 2, 2021, opening its first trading session at $15.

It was a bumpy ride after that, unfortunately. By Sept. 20, the share price had already declined to $7 and change.

Then, a modern miracle occurred as EVGO stock unexpectedly rallied to around $20 in November. Stay tuned, as that price point will become important again.

Recently, the sellers took control of the stock, sending it to $12. Don’t be surprised if volatility persists through the end of the year, and into early 2022. It’s still too early to establish any meaningful support levels, though anything near $10 should be an attractive price for prospective investors.

Deals and More Deals
The infrastructure bill was a big deal for the EV charging market, but it wasn’t the only big deal in 2021.

Not long ago, InvestorPlace contributor Larry Ramer summarized a pair of significant deals that EVgo made. To get the full scoop, I invite you to read that article.

For an abridged version, I’ll start with EVgo’s collaboration with General Motors (NYSE:GM). Building upon a previous deal, the two companies now plan to develop a network of 2,750 charging stalls through 2025. With that, General Motors and EVgo will extend the geographic reach of this build-out from 40 metropolitan markets to 52.

Next, EVgo disclosed an expansion to its EV charging program for ride-share drivers on Uber’s (NYSE:UBER) platform. Drivers using Uber will continue to be able to access EVgo’s member rates without any monthly fees. Furthermore, drivers with Uber Pro Gold, Platinum or Diamond status will unlock even lower EVgo Plus rates.

A Major Milestone, and the Road to $20
In case all of that isn’t enough to convince you, EVgo also just struck a big-money deal in America’s EV mecca: California.

Reportedly, EVgo was selected by the state of California for proposed awards of $1.7 million in grant funding to build 38 charging stalls, including 18 charging stalls at a large site in Los Angeles.

It’s no wonder, then, that JPMorgan analyst Bill Peterson cited “attractive and growing partnerships” when he initiated coverage of EVgo with an “overweight” rating and a $20 price target. Peterson views EVgo as a leader in the fast-charging electric vehicle space. It’s hard to argue with him, as the company has more than 800 fast-charging locations now.

Apparently, over 130 million people in the U.S., and more than 80% of Californians, live within a 10-mile drive of an EVgo fast charger.

Clearly, the company’s charging-port network is expanding quickly. And soon enough, more Wall Street analysts should come to appreciate EVgo’s value proposition.

The Bottom Line
More time needs to pass before a meaningful price range can be established for EVGO stock.

Nevertheless, $20 seems like a reasonable price target. There’s no denying that EVgo has “attractive and growing partnerships,” as Peterson put it.

And of course, the infrastructure bill should provide an additional tailwind. So, even in an increasingly crowded EV charging-station market, there should be plenty of room for EVgo to grow.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

[Raffis]

Bye bye, shorts: https://www.bloomberg.com/news/articles/2021-12-10/hedge-funds-ensnared-in-expansive-doj-probe-into-short-selling

[Raffis]

https://www.fool.com/investing/2021/12/09/why-evgo-stock-jumped-today/

[Raffis]

Institutional-%-rising.-Super-acquisition/merger-target.-No-debt-liquid.-Expansion-progressive.

[crudeoil24]

Massive ongoing dilution. Investors may see $20.00 in 2022.

EVgo started at overweight with $20 stock price target at J.P. Morgan
7:28 am ET December 9, 2021 (MarketWatch)
Print

(END) Dow Jones Newswires

December 09, 2021 07:28 ET (12:28 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

EVGO

[crudeoil24]

Nissan's battery-powered Leaf has been on the market for more than a decade.

EVGO

[MADDSTACKER]

$spaq .. ? Deal with Nissan …

[crudeoil24]

EVgo started at overweight with $20 stock price target at J.P. Morgan
7:28 am ET December 9, 2021 (MarketWatch)
Print

(END) Dow Jones Newswires

December 09, 2021 07:28 ET (12:28 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

EVGO

[WeTheMarket]

PlugShare Platform Surpasses 1 Million Annual Downloads in 2021
December 09 2021 - 07:00AM, Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/86769334/plugshare-platform-surpasses-1-million-annual-down

Leading EV charging community increases user count and participation by nearly 30% vs. last year

Recargo, a leading e-mobility software company and wholly-owned subsidiary of EVgo Inc. (Nasdaq: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that the PlugShare platform — the world’s largest EV community — has surpassed one million app downloads since the start of 2021, the most in the app’s history as EV adoption continues to increase across the globe.

The milestone arrives as EVgo and Recargo build on their shared momentum in the months following EVgo’s acquisition of Recargo in July 2021. Since then, the companies have combined their respective strengths in nationwide public fast charging infrastructure, software expertise, app development, market research, advertising and more – to shape an enhanced customer experience and capitalize on meeting EV drivers’ growing needs and support accelerated EV adoption. PlugShare’s robust user expansion is the latest example of the collective growth made possible through EVgo and Recargo’s collaboration, as the companies continue working together to bolster the EV market overall.

PlugShare is the leading platform used by EV drivers for locating and selecting public chargers. The solution allows users to share their experiences and feedback around specific locations with other drivers, better plan both short and long range EV trips, rate their charging experiences via the proprietary PlugScore feature, use Pay With PlugShare at select charging networks, and more.

“EV adoption requires more than cars—it requires great cars, reliable charging, and excellent software,” said Cathy Zoi, CEO of EVgo. “EVgo acquired Recargo because we know how important the PlugShare platform is to help new and existing EV drivers around the world charge, and this 1 millionth annual download milestone is one of many as EV growth proliferates.”

As of July 2021, there were 7 unique PlugShare app installs for every 10 EVs in operation in the U.S., reflecting the platform’s significant user penetration among America’s EV drivers. Since its inception, over 3.6 million unique Apple App Store and Google Play accounts worldwide have downloaded the app to their devices, contributing to upwards of 3.8 million reviews of public charging locations.

“The recent influx of reviews on the PlugShare platform is a testament to the growing demand for EVs and the charging infrastructure new and existing EV drivers use to go electric,” said Nick Wild, President and CEO of Recargo. “The PlugShare community continues to be the best place for accurate EV charging information, and we are excited to continue supporting drivers and infrastructure providers around the world.”

For more information and to find the location of EV chargers within the EVgo charging network, visit www.evgo.com and www.plugshare.com.

About PlugShare

Based in El Segundo CA, PlugShare maintains the most comprehensive census of EV infrastructure in the world. They make the PlugShare app for iOS, Android, and the web, the most popular EV driver app globally, PlugShare also provides sophisticated data tools, reports, custom consulting and comprehensive research on EVs for automakers, utilities, charging networks, government and the rest of the EV industry. It operates the world's largest EV driver survey research panel, PlugInsights, now with over 72,000 members.

About EVgo

EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 310,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005343/en/

For Investors:
Ted Brooks, VP of Investor Relations
[e-mail]
310-954-2943

For Media:
[e-mail]

[WeTheMarket]

EVgo Selected by State of California for Proposed Awards of $1.7M in Grant Funding for 38 New DC Fast Charging Stalls at 5 Locations
December 07 2021 - 07:00AM
Business Wire

Public-private partnership supporting expanded EVgo deployments across the State, including a new large charging hub in LA

EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that it was selected for proposed awards for various grants from the California Air Resources Board (CARB) through the Bay Area Air Quality Management District (BAAQMD) to install new high powered direct current fast chargers (DCFC) to help the state meet its transportation electrification goals. The five proposed awards are funded by the California Volkswagen Mitigation Environmental Trust and support the state’s ZEV Action Plan.

Public funding helps accelerate the deployment of infrastructure to support EV adoption. EVgo currently has more than 330 sites and 820 fast charging stalls across California. This new set of sites will add 5 more fast charging locations, 38 charging stalls, including one large site in Los Angeles with 18 charging stalls enabling more retail drivers and fleets around the city to make the transition to electric vehicles. All of these sites will include power-sharing and power-routing 350kW fast chargers, capable of charging most vehicles up to 80% in 15 to 45 minutes*.

“As a home state company, EVgo thanks CARB and BAAQMD for their leadership in supporting EV adoption and for selecting EVgo for these proposed funding awards,” said Jonathan Levy, Chief Commercial Officer at EVgo. “EVgo has a long track record of successfully partnering with public sector agencies to deploy fast charging, and these new sites will help enable Californians across neighborhoods and income levels take advantage of the benefits of driving electric.”

The California Volkswagen Mitigation Environmental Trust, which resulted from the dieselgate scandal, allocated $5 million to fund light duty zero-emission infrastructure. A minimum of 50% of the funds are directed to disadvantaged and low-income communities to expand EV charging access across the state. EVgo has a long history of working to install charging infrastructure across California, including the first chargers in Compton and Inglewood, California, and continues to work with local community-based organizations to ensure equal access to EV charging infrastructure. Currently, more than 80% of Californians live within a 10-mile drive of an EVgo fast charger, ensuring access to a reliable network for the growing number EV adopters in the state.

* Actual charging speed depends on vehicle’s charging capability.

About EVgo

EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 310,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005605/en/

For Investors:
Ted Brooks, VP of Investor Relations
[e-mail]
310-954-2943

For Media:
[e-mail]

[Raffis]

Lowering price to circumvent lockup expiry sell off.

[Raffis]

Computer-algos are-being used-to corner the markets.

[Raffis]

Institutions are holding. EVGO is in demand: https://finance.yahoo.com/quote/EVGO/
1.90%. Shares Held by All Insider
45.34% Shares Held by Institutions
46.22% Float Held by Institutions
122 Institutions Holding Shares
There’s no problem, here. People want more shares.

[Scotttrader80]

It seems like the more $EVGO articles being posted the lower the share price goes.

[Raffis]

EVGO-has-31,800-chargers, in-800-stations, in-34-states: https://www.evgo.com/cities/ “800 EV fast charge stations in 34 states and District of Columbia. EVgo provides more than 1,900 fast and 29,000 Level 2 chargers through EVgo and partners, making us the largest public EV fast charging network in USA.”

[Raffis]

Bottom-Page2&11:

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001821159/146fb18a-c72f-4ece-ab8e-020e82dcbf58.pdf

“As of November 8, 2021, there were 68,736,770 shares of the registrant’s Class A common stock, $.0001 par value per share, and 195,800,000 shares of the registrant’s Class B common stock, par value $0.0001 per share, issued and outstanding.”
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001821159/146fb18a-c72f-4ece-ab8e-020e82dcbf58.pdf

[Raffis]

From EVGO Investor Relations:

[Raffis]

68.74Million-OS-is-26%. The remaining 74% is the majority owned LS Power class B shares-195,730,000 Class B shares. EVGO true OS is 264,500,000.

[Raffis]

Look at the true market cap: https://www.cnbc.com/quotes/EVGO

[Raffis]

OS-is-264,500,000-shares: “EVgo Inc. will use the proceeds to fuel its growth strategy, including the buildout of its charging infrastructure network, while enhancing its position as the market leader in the transition to clean mobility. LS Power and EVgo management, who together owned 100% of EVgo prior to the business combination, have rolled 100% of their equity, and own approximately 74% of the combined company. https://www.lspower.com/ls-power-majority-owned-evgo-lists-on-nasdaq/

[Raffis]

EVGO IS UNDERVALUED!!!

[Raffis]

TDAmeritrade-is-displaying-the-wrong-market-cap,-Right-Now. It should be $3.7billion @ 13.91 x 264,500,000 OS. Google has the correct market cap.

[Raffis]

EVGO-actual-true-market-cap-is $3,673,905,000/264,500,000 OS (13.90). $5.13 billion was correct. I have absolute confirmation. Bank of America was wrong. $5.13 billion was correct at 264,500,000 shares OS x $19.40 on November 15. Correct, right down the line. Bank of America was WRONG!!!!! Because they estimated the float, not the outstanding total shares. Nice try Bank of America. TDAmeritrade is also displaying the WRONG market cap. Yes sir!!!!

[Raffis]

https://finance.yahoo.com/quote/EVGO/holders?p=EVGO
45.33% % of Shares Held by Institutions
46.21% % of Float Held by Institutions
122 Number of Institutions Holding Shares

[Raffis]

See-Page-6:-https://s27.q4cdn.com/370825096/files/doc_financials/2021/q3/2021.11.05-Q3-Earnings-Call-Deck-_vFinal-(2).pdf

[Steph70]

When does the lock up expire?

[Raffis]

“Oil-Companies-trying-to-crush-electric-cars.”:https://www.politico.com/story/2019/09/16/oil-industry-electric-car-1729429

[Raffis]

Oil-companies-afraid-of-charging-stations:https://www.politico.com/story/2019/09/16/oil-industry-electric-car-1729429”With the automakers singing a new tune and the price of electric vehicles continuing to fall, Stanek says state regulators should be ready for the front lines of the battle between utilities and the oil industry to spread to their states soon.

“The petroleum lobby and the electric utility lobby — I’m talking about API vs. EEI — we are going to see a competition between them for market share like we haven’t seen before,””he said.

[Raffis]

EVGO a Gem:-Energy-Prices-Spike-Oil-Producers-Worry:https://www.nytimes.com/2021/10/04/business/energy-environment/oil-and-gas-prices-clean-energy.html
“The energy system is suddenly in crisis around the world as the cost of oil, natural gas and coal has climbed rapidly in recent months. In China, Britain and elsewhere, fuel shortages and panic buying have led to blackouts and long lines at filling stations.”

[Raffis]

EVGO-is-Gold-because-oil-is-expensive:
https://www.forbes.com/sites/daneberhart/2021/11/13/why-are-oil-prices-so-high-when-the-us-remains-one-of-the-worlds-largest-producers/
“Why is the Biden administration begging OPEC+ to add more supply when the United States has extensive reserves and remains a top global producer? Biden must tackle two somewhat conflicting agendas simultaneously — rising energy prices in the short-term and climate change in the long term. He must address rising energy prices — gasoline pump prices are now up over $1 a gallon during his administration to a seven-year high. But he also can’t be seen by the progressive wing of the Democratic party as being pro-oil in promoting domestic output. The net result is policies that look hypocritical.”

[tedgoeseast]

I just bought evgo on the pull back friday ,nothing has changed to make the price drop from 19.58 to 14.72 we still had all that good news so I am expecting more partnerships and for the PPS to rebound above 18.00 by next friday the infrasctructer bill passed friday and they will be voting on it this coming week ,this should mean big government contratcs fo EVGO

[Raffis]

EVGO PARENT:https://www.dnb.com/business-directory/company-profiles.ls_power_development_llc.ccbc8e151d6c3a17dc3fca4eeb0890f3.html

[Raffis]

Read-Carefully:-EVGO-is-manipulated/w/evidence:-AI/Algorithms-likely-responsible.

I sent a message to TD Ameritrade after I noticed a repeated in accuracy in the “EVGO” stock market cap. I strongly suspect Artificial Intelligence/Algorithms.

The Google and TD Ameritrade figures led me to suspect Artificial Intelligence /Algorithms . Please read my message to TDAmeritrade, below. You may construe it as a complaint for market manipulation. But I don’t know who is responsible. Message is below:

I am inquiring why TD Ameritrade showed a Market Cap value of “5.13 B” for ticker “EVGO,” on the date of the attached screenshot. Something is clearly wrong, when compared with Implied, outstanding or Float share figures. Please see attached THINKORSWIM screenshot.

You will also notice a “$4.4 billion,” Market Cap in the quote, under the link from November 15, 2021, Motley Fool article:
https://www.fool.com/investing/2021/11/15/why-ev-charging-stock-evgo-is-crashing-today/
“That said, EVgo shares undeniably ran up too much, too fast. And with the stock still commanding a stunning market capitalization of around $4.4 billion even after today's price drop, it's not surprising to see some analysts turning cautious and traders taking profits off the table.”

You will also notice a “$3.89 billion,” Market Cap in the Google ticker screenshot with the date, that indicates a $3.89 billion market cap, see date and time of screenshot, compared to TD Ameritrade Thinkorswim, which is also clearly distorted - - either or?

Something is clearly way off with the information regarding EVGO in various reference sources, currently. I want to know what the reason for the inaccurate market cap figures are, as a concerned shareholder and member of the public, and TD Ameritrade Client.

Please inform me of the reason for the different market cap figures for “EVGO.” None of them make any sense. I am very concerned as there may be an illegal activity afoot, somewhere.

I am not pointing any fingers at anyone, or accusing anyone. However, it is clearly visible that TD Ameritrade did show a market cap that did not make any sense, as well. It may be this observation that the multiple press releases and multiple downgrades/upgrades and analyst opinions also occurred this week, as well. Something is not right.

[Raffis]

Hold this, without any fear!!!

[Raffis]

I-called-the-company-@[phone].-I-asked-one-question,-and-received-a-great-answer. https://helpcenter.evgo.com/hc/en-us/requests/new

[WeTheMarket]

Sac Metro Air District Partners with EVgo to Provide Public EV Charging to Clean Cars 4 All Participants
By Sadhana Shenvekar -19th November 2021
https://emobilityplus.com/2021/11/19/sac-metro-air-district-partners-with-evgo-to-provide-public-ev-charging-to-clean-cars-4-all-participants/


The Sacramento Metropolitan Air Quality Management District (Sac Metro Air District) and EVgo are pleased to announce a new partnership offering eligible participants in the District’s Clean Cars 4 All program credits of up to $2,000 at electric vehicle charging stations in EVgo’s network. EVgo is a nationwide provider of electric vehicle charging services, including more than 300 fast charging locations across the state of California.

Clean Cars 4 All is a Sac Metro Air District program that helps income-qualified residents buy a zero or near zero emission car. Clean Cars 4 All is part of California Climate Investments, a statewide initiative that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment — particularly in disadvantaged communities. The charging credits will be distributed to more than 200 current participants of the Clean Cars 4 All program, with goals to expand to additional program participants in the future once the Sac Metro Air District begins accepting new applications.

“Our partnership with EVgo will provide another option for Clean Cars 4 All program participants to gain access to electric vehicle charging,” said Jaime Lemus, Division Manager for Transportation & Climate Change. “For those living in apartments and other multi-dwelling units, where installing a home charging unit is difficult, these credits will go a long way towards making our program more inclusive and helping our new EV car owners realize a more sustainable lifestyle. We are excited to partner with companies and organizations that share our vision for clean air and a low-carbon future for all.”

More than 80% of Californians live within a 10-mile drive of an EVgo fast charger. There are more than 40 stations located in the multicounty region that includes Sacramento, El Dorado, Placer, Nevada, Solano, San Joaquin, Yolo, Stanislaus, Glenn, Sutter, and Colusa counties. EVgo plans to build 30 more fast charging stations in the greater Sacramento area in the next five years.

“This latest partnership with the Sac Metro Air District builds on EVgo’s unwavering commitment to environmental justice through community partnerships. We can only realize our vision of electric for all by working with others who support equitable access to fast charging,” said Jonathan Levy, EVgo Chief Commercial Officer.