EVgo Services LLC (EVGO)

[WeTheMarket]

Portland partners with EVGo to build out electric vehicle charging infrastructure
Maine Public | By Patty Wight
Published March 8, 2022 at 6:06 PM EST
https://www.mainepublic.org/environment-and-outdoors/2022-03-08/portland-partners-with-evgo-to-build-out-electric-vehicle-charging-infrastructure


White House climate adviser Gina McCarthy, left, talks with EVgo Chief Executive Officer Cathy Zoi, before the start of an event near an EVgo electric car charging station at Union Station in Washington, Thursday, April 22, 2021.

The city of Portland is partnering with EVGo to install 48 electric vehicle chargers. That's in addition to the roughly 20 chargers that the city currently has.

Portland's sustainability director Troy Moon says the vast majority will be Level 2 chargers that are spread around neighborhoods to serve people who live in apartments and condos.

"We want to create neighborhood charging hubs where people can, ya know, park nearby their homes, plug in, walk home while the car charges and come back and get it later," says Moon.

In busier parts of Portland, EVGo will install four DC fast chargers, which can charge batteries about 80 percent in 30 minutes. Moon says the expansion will occur over the next year and half at no cost to the city.

[WeTheMarket]

Rhythm Energy Launches New Electric Vehicle Energy Plan in Partnership with EVgo
March 03 2022, PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87456114/rhythm-energy-launches-new-electric-vehicle-energy

HOUSTON, March 3, 2022 /PRNewswire/ -- Rhythm Energy, the Texas-based renewable energy provider, announced today the launch of its new Simply Drive energy plan in partnership with EVgo (Nasdaq:EVGO), the nation's largest public fast charging network for electric vehicles (EVs). Texans who sign up for Rhythm's Simply Drive plan support renewable energy production through their home energy choice and with $100 in charging credit for on-the-go charging on EVgo's network powered by 100% renewable electricity.

"The transportation market is electrifying at a rapid pace, especially in Texas," said P.J. Popovic, CEO of Rhythm Energy. "Charging electric vehicles with renewable energy is good for wallets, lifestyles and the planet. With Rhythm's Simply Drive plan, consumers will get a 100% renewable energy plan that powers their home and charges their EV affordably, as well as $100 in charging credits with EVgo, so they can extend their zero emission driving when they are away from home. We're proud to bring this plan to market in support of Texans who have made the choice to use electric vehicles. This plan and our partnership with the team at EVgo reflects our commitment to make every aspect of our consumers' energy life easier and cleaner."

Customers who sign up for Rhythm's Simply Drive will get a fixed-rate plan backed by 100% clean sources like hydro, wind, and solar. They will also receive $100 in complimentary charging with EVgo and its roaming partner networks where they can access more than 46,000 L2 and DC fast chargers nationwide.

"EVgo is delighted to partner with Rhythm Energy to ensure EV drivers across Texas have the best of at-home and on-the-go public charging options," said Jonathan Levy, Chief Commercial Officer at EVgo. "We are looking forward to welcoming Rhythm's Simply Drive customers to the EVgo network as more and more Texans make the switch to electric vehicles."

Rhythm Energy's Simply Drive plan expands on the energy provider's commitment to making energy-related choices that are good for consumers' wallets and the planet.

"We know consumers will be a driving force in the energy transition," said Popovic. "This new plan reflects our desire to accelerate the transition to electric vehicles."

To find out more about the Rhythm's Simply Drive electricity plan, visit: www.gotrhythm.com/electric-vehicle-plans

About Rhythm Energy
Rhythm is a 100% renewable energy company founded on the premise that electricity should be made better, cheaper and easier for Texans. We stand against the anti-consumer business practices that permeate retail energy. That's why our model doesn't rely on hiding fees, punishing loyal customers with higher rates than new customers or dodging customer calls. Rhythm offers straightforward pricing, new and renewing customers get the same great rates on energy plans and our customer service is available seven days a week.

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 customers. 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.

Contact:
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EVgo
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[Scotttrader80]

Any interest in this market EVGO?

https://www.cnet.com/news/this-all-electric-hydrofoil-boat-lets-you-fly-above-the-waves-candela-c8/

[WeTheMarket]

EVgo and Toyota Announce New Agreement to Provide Fast Charging for bZ4X Customers
February 24 2022 - 07:00AM
Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87376758/evgo-and-toyota-announce-new-agreement-to-provide

Drivers of the new 2023 Toyota bZ4X will receive one year of complimentary charging via nation’s largest public fast charging network

Today, EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, announced a commercial agreement with Toyota Motor North America, Inc. (Toyota) to provide drivers of the new Toyota bZ4X battery electric SUV with complimentary charging at EVgo’s nationwide network of public fast chargers for one year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220224005453/en/


(Photo: Business Wire)

“We’re thrilled to be collaborating with Toyota to get more drivers to go electric,” said Jonathan Levy, EVgo Chief Commercial Officer. “EVgo is excited to create an exemplary customer experience for Toyota’s bZ4X drivers out of the gate and this business deal is a testament to the confidence partners have in the reliability and scale of our charging solutions.”

Toyota is the latest leading automaker to tap EVgo as a charging infrastructure partner, collaborating to incentivize and accelerate EV adoption across the US. EVgo’s fast-growing public charging network is capable of charging all types of EVs in convenient locations that fit into people’s everyday lives. With stations located at grocery stores, shopping malls, retail locations and more, EVgo’s joint efforts with renowned brands across automotive, rideshare, retail, fleet, and other industries have powered more than 280 million electric miles to date – all via the only EV charging network powered by 100% renewable energy. With the combination of sustainability and financial discipline serving as its north star, EVgo is strongly positioned to lead and help shape transportation electrification in the years ahead.

Using the Toyota App, customers who purchase or lease a new 2023 Toyota bZ4X can enjoy one year of unlimited complimentary charging at all public fast charging stations within the EVgo network, as well as locate nearby EVgo charging stations and initiate charging for their vehicles.

“The arrival of our all-electric bZ4X marks an important step in our commitment towards electrifying 70% of our fleet by 2030. We want our bZ4X customers to enjoy a high-quality ownership experience that is as seamless and worry-free as possible,” said Christopher Yang, Vice President, EV Charging Solutions, Toyota Motor North America. “Collaborating with EVgo, the nation’s largest public fast charging network, will help provide bZ4X owners with access to a fast, reliable charge where and when they need it.”

The EVgo network features more than 800 public fast charging locations and upwards of 1,200 L2 charging stalls across 68 metropolitan areas in 35 states, providing drivers with the flexibility to travel and charge their vehicles as much as 80% within one hour. Today, more than 130 million people in the U.S. live within a 10-mile drive of an EVgo fast charger. As demand for electrified transportation increases nationwide and new EV models are released, EVgo continues to build out its fast charging network to maintain pace with this shift, with plans to deploy approximately 16,000 fast charging stalls by 2027. The company is driving increased utilization of its network through industry partnerships and building the EVgo community of more than 310,000 customer accounts.

For more information around the locations of fast chargers within EVgo’s 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 customers. 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.

About Toyota

Toyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands plus our 1,800 dealerships.

Toyota directly employs more than 48,000 in North America and has contributed world-class design, engineering, and assembly of nearly 43 million cars and trucks at our 13 manufacturing plants. By 2025, the company’s 14th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. Toyota has more electrified vehicles on the road than any other automaker, with electrified vehicles comprising more than a quarter of our 2021 North American sales.

Through its Start Your Impossible campaign, Toyota highlights the way it partners with community, civic, academic and governmental organizations to address our society’s most pressing mobility challenges. We believe that when people are free to move, anything is possible. For more information about Toyota, visit pressroom.toyota.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005453/en/

For Media:
EVgo
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Toyota
Aaron Fowles
469-292-1097
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For Investors:
Ted Brooks, VP of Investor Relations
[e-mail]
310-954-2943

[WeTheMarket]

EVgo Continues Network Expansion and Push for “Electric for All” in EV Charging with New Fast Charging Station in Seattle
February 24 2022 - 07:00AM, Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87376756/evgo-continues-network-expansion-and-push-for-el

New King Plaza site in Seattle, Washington helps promote equitable distribution of public fast chargers and the state’s goal to reach 1 million EVs on its roads by 2030

EVgo Inc. (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 opening of a new public fast charging site at King Plaza in Seattle, Washington. Featuring two 100 kW fast chargers and located at 7101 Martin Luther King Jr. Way South – in one of the most diverse ZIP codes in the country -- the opening of this station supports EVgo’s “Electric for All” mission, the equitable distribution of EV charging infrastructure, and the state of Washington’s broader sustainability plan.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220224005377/en/


New EVgo station at King Plaza in Seattle, Washington (Photo: Business Wire)

The EVgo network features more than 800 public fast charging locations and upwards of 1,200 Level 2 charging stalls across 68 metropolitan areas in 35 states, including over 35 EVgo sites across the state of Washington. Since the beginning of 2021, EVgo has added more than 25 stalls across the state of Washington as part of its broader network expansion. To execute on the vision of “Electric for All” and ensure EV infrastructure is located in convenient and accessible locations for as many people as possible, EVgo incorporates the EPA’s EJscreen tool, a nationally consistent, validated third party environmental justice (EJ) database, to inform site development decisions.

EVgo focuses on building infrastructure to support the growing adoption of EVs, particularly in dense urban areas where many drivers may not have access to home charging. Funded in partnership with Nissan, this station will improve access to EV charging for the growing Seattle metro area and support the state of Washington’s broader energy plan, which aims to reach over one million EVs on its roads by 2030.

“Getting more drivers into EVs requires more public fast charging infrastructure across the community landscape” said Cathy Zoi, CEO of EVgo. “EVgo is committed to ‘electric for all’, so we build stations in easy to access shopping centers and other public places. This gives confidence to drivers that they can rely on public charging infrastructure in Washington and beyond.”

“For the City and the region to meet our ambitious, but necessary, climate goals, we need strong investments in EV infrastructure. It is critical that we advance these priorities equitably, ensuring that when new technologies are available that we prioritize access for all our residents," said Sara Nelson, Seattle City Council Chair of Economic Development, Technology and City Light.

“The addition of this new charging site is a major step forward for our local community as well as the broader state,” said Debra Smith, General Manager and CEO of Seattle City Light. “We look forward to further third-party investment that enhances access to public fast charging in our city and building upon the increased momentum around our region’s energy and sustainability initiatives.”

“It is vital that, as we tackle the climate crisis, we do so through the lens of justice and equity. We know that neighborhoods like Othello have been disproportionately affected by pollution and climate change. This groundbreaking is an investment in renewable energy, in a clean future, and in Othello. I’m proud to be here in support of this,” said Girmay Zahilay, King County Councilmember.

A ribbon cutting ceremony will take place at King Plaza today, February 24th, at 3 p.m. PT, and will feature a lineup of local officials including Sara Nelson, Seattle City Council Chair of Economic Development, Technology and City Light; Debra Smith, General Manager and CEO of Seattle City Light; Girmay Zahilay, King County Councilmember; and Molly Middaugh, Director of Business Development at EVgo.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005377/en/

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

For Media:
[e-mail]

[WeTheMarket]

EVgo Releases Best Practices Document for EV Charging Infrastructure Public Funding Ahead of Federal Funds Being Released to State Departments of Transportation (DOTs)
February 23 2022 - 07:00AM, Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87361498/evgo-releases-best-practices-document-for-ev-charg

EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and the only U.S. public charging network powered by 100% renewable electricity, today released a new guide featuring best practices gleaned from over a decade of operating experience designed to help state Departments of Transportation (DOTs) and their partners with administering funds from the recently announced $5 billion National Electric Vehicle Infrastructure Program (NEVI). Titled “Best Practices for Charging Infrastructure Funding Program Design,” the guide is the latest in EVgo’s “Connect the Watts” series and outlines five program design principles for states to consider and implement in their EV Infrastructure Deployment Plans in order to receive necessary funding, develop their much-needed infrastructure on time and accelerate the mass adoption of electrified transportation in the United States.

Under the Biden Administration’s $5 billion NEVI program, states are required to submit EV Infrastructure Deployment Plans outlining their proposed use of federal funds received by August 1, 2022. “Best Practices for Charging Infrastructure Funding Program Design” draws upon the company’s decade-plus experience deploying fast charging infrastructure to help states develop their programs and expedite infrastructure development. The new Connect the Watts guide also draws from EVgo’s deep background in clean energy, investing and federal energy policy. EVgo's leadership team has a long history of working with policymakers across the aisle and across the country, from executive experience at the federal level to state agencies and regulatory bodies.

“At EVgo, we continue to champion close collaboration between the public and private sectors to realize the full potential of federal funding and move the needle further on mass EV adoption,” said Cathy Zoi, Chief Executive Officer at EVgo. “As state DOTs across the country gear up to administer the newly announced funds, EVgo’s distillation of a decade of experience can serve as a valuable guide – demystifying the steps necessary to effectively support EV growth and accelerate electrification.”

Today’s announcement builds upon EVgo’s thought leadership initiatives on public funding programs, including past best practices documents and a full set of public comments in response to the NEVI request for stakeholder input. The company’s latest guide outlines best practices for states in regard to maintaining timelines, scouting and evaluating potential charging locations, ensuring equitable access in rural and disadvantaged communities, working alongside charging network operators as well as public and other interagency partners to ensure compliance with NEVI and obtain approval from their Departments of Transportation.

“Best Practices for Charging Infrastructure Funding Program Design” is part of EVgo’s “Connect the Watts” program, an initiative aimed at bringing the EV charging infrastructure community together to identify and implement best practices for charger deployment. To download “Best Practices for Charging Infrastructure Funding Program Design,” click here.

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/20220223005547/en/

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

For Media:
[e-mail]

[WeTheMarket]

EVgo Stock Could Have the Long-Term Juice to Boost Your Portfolio
Strategic partnerships amid an EV-infrastructure build-out will power EVGO stock higher
35m ago · By David Moadel, InvestorPlace Contributor
https://investorplace.com/2022/02/evgo-stock-could-have-the-long-term-juice-to-boost-your-portfolio/

Over the past year, it’s been a bumpy ride for EVgo (NASDAQ:EVGO) stock. Dreams of multi-bagger profits have so far eluded the charging station manufacturer.



This result is surprising, considering EVgo’s impressive progress. At the end of 2021’s third quarter, the company had more than 310,000 customer accounts after adding around 36,000 of them.

Quarter-over-quarter revenue growth of 29% also drove the point home that EVgo was a thriving business. Still, Wall Street apparently isn’t convinced of the company’s growth narrative.

Yet, this doesn’t mean that the shareholders should just abandon ship. Perhaps EVgo’s high-potential partnerships can turn the tide of sentiment among the trading community.

A Closer Look at EVGO Stock
Buy low, sell high: it’s easy to say it, but psychologically difficult to actually carry out this plan. Do you have the emotional fortitude to buy EVGO stock after a sharp drawdown?

To help answer this question, let’s go back to the beginning. The stock debuted on July 2, 2021, opening its first trading session at $15.

After several bouts of volatility, EVGO stock rallied to $20.15 in November. It was a vertical move, so a pullback was almost inevitable.

The share price was cut in half over the ensuing months. Fast-forward to today and the stock is trading at $10 and change.

There appears to be some support at $7, as demonstrated by bounces from that level in September 2021 and January. In other words, EVGO stock may be closer to the bottom than the top, which would be good news for long-side traders.

More Stations, More Locations
While EVgo’s aforementioned customer-count increase is impressive, the company must continue growing in order to remain competitive.

It’s evident that the company is choosing to do this through strategic joint ventures. Among these is a recently expanded collaboration with Midwestern U.S. retailer Meijer, which operates 258 super-centers and grocery stores throughout multiple states.

The addition of stations at Meijer locations will add to the already considerable network of more than 800 fast-charging locations in EVgo’s network.

“Our partnership with EVgo provides another way for us to serve our community and further our commitment to sustainability,” commented Erik Petrovskis, Meijer’s director of Environmental Compliance and Sustainability.

Furthermore, EVgo will add fast-charging stations to retail locations owned by Tennessee-headquartered CBL Properties (NYSE:CBL), which holds 99 properties including malls, outlets, lifestyle retail centers and open-air centers.

As EVgo established its first CBL Properties-based charging station in Kansas, EVgo CEO Cathy Zoi said that the two companies “share a commitment to making a positive impact and we are excited to see our partnership expand to new regions.”

Sharing a Commitment
The deals with Meijer and CBL Properties are undoubtedly exciting for EVgo’s loyal stakeholders. However, there’s another collab in the works, and it might be the most significant one of all for EVgo.

Not long ago, EVgo revealed that it’s been chosen as the preferred electric vehicle charging partner of Subaru’s (OTCMKTS:FUJHF) Subaru of America.

The timing couldn’t be any better, as Subaru of America recently introduced the 2023 Solterra electric SUV, its first zero-emissions vehicle.

Because of this collaboration, all Subaru drivers will have access to EVgo’s mobile app for finding fast chargers, initiating and monitoring charging sessions and earning rewards points to be redeemed for free charging credits.

It’s a perfect partnership, really, as the two companies have aligned ideals pertaining to clean-Earth objectives.

“Subaru and EVgo share a commitment to performance, reliability, and being good stewards of the environment, which is why we’re excited to partner up to deliver convenient charging for Solterra drivers,” said David Sullivan, product marketing launch manager at Subaru.

The Bottom Line
In light of EVgo’s potent partnerships, it’s baffling that the company’s shares are trading at such a low price. This points to a rare buying opportunity for investors seeking to bulk up their clean-energy portfolios.

Just bear in mind that fast-charging stations still represent a fairly new technology. So, stock-price volatility will be the norm for a while.

In the long run, however, EVGO stock could run higher amid an unstoppable fast-charging station network build-out.

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.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.

[Scotttrader80]

By 2030, Biden wants 50% of all new vehicles sold to be electric or plug-in hybrid electric models and 500,000 new EV charging stations;

[WeTheMarket]

U.S. to detail $5-bln plan to fund EV charging network
By David Shepardson, Feb 10
https://www.reuters.com/business/autos-transportation/us-detail-5-bln-plan-fund-ev-charging-network-2022-02-10/

WASHINGTON, Feb 10 (Reuters) - The Biden administration on Thursday plans to detail how it will award nearly $5 billion over five years to build thousands of electric vehicle charging stations.

Congress approved the funding to states as part of a $1 trillion infrastructure bill in November.

The White House wants to prod Americans to move away from gasoline-powered vehicles even as efforts to win substantial additional funding for EVs in Congress have stalled.

The administration will make $615 million available in 2022 but states must first submit plans and win federal approval.

U.S. Transportation Secretary Pete Buttigieg said funding "will help us win the EV race by working with states, labor, and the private sector to deploy a historic nationwide charging network."

By 2030, Biden wants 50% of all new vehicles sold to be electric or plug-in hybrid electric models and 500,000 new EV charging stations; he has not endorsed phasing out new gasoline-powered vehicle sales by 2030.

The Biden administration said in guidance Thursday that states should first prioritize investments along interstate highways. It also says:
- States should fund DC Fast Chargers; stations should have at least four ports capable of simultaneously charging four EVs.
- States should install EV charging infrastructure every 50 miles along interstate highways and be located within 1 mile of highways.
- Federal funds will cover 80% of EV charging costs, with private or state funds making up the balance.

The administration anticipates states will generally opt to hire private entities to install and operate EV charging stations.

The White House endorsed legislation stalled in Congress to increase current $7,500 EV tax credits to up to $12,500 for union-made U.S. vehicles, create credits of up to $4,000 for used EVs and lift the current 200,000-vehicle EV manufacturer tax credit cap, which would make General Motors (GM.N) and Tesla (TSLA.O) eligible again.

That bill includes a 30% credit for commercial electric vehicles, $3.5 billion for converting U.S. factories for EV production and $9 billion for the U.S. Postal Service and federal government to buy EVs and charging stations.

[WeTheMarket]

Subaru Selects EVgo as Preferred EV Charging Partner Following Announcement of First All-Electric Vehicle
February 08 2022 - 07:00AM, Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87217037/subaru-selects-evgo-as-preferred-ev-charging-partn

Nation’s Largest Public Fast Charging Network to Support Drivers of the All-New 2023 Subaru Solterra, their first all-electric SUV

Today, EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, announced the company has been selected as the preferred EV charging partner of Subaru of America, Inc. This news comes on the heels of Subaru unveiling its first ever zero-emissions vehicle, the all-new 2023 Solterra EV SUV, at the LA Auto Show in November and opening reservations this month. Subaru drivers will have access to all the benefits of EVgo’s industry-leading network, with its proven reliability, broad geographic reach and 24/7 customer support.

With EVgo’s network powered by 100% renewable electricity, Subaru drivers can enjoy a zero-emission driving experience, as well as the convenience of charging at more than 800 public fast charging locations and 1,200+ L2 charging stalls spanning 68 metropolitan areas and 35 states. In addition, drivers can access more than 46,000 L2 and DC fast charge public chargers through EVgo’s roaming partners across the country. EVgo continues to build out its fast charging network, and is currently planning to have approximately 16,000 charging stalls deployed by 2027.

All Subaru EVgo account holders can also count on the 24/7 customer support of the EVgo Charging Crew for assistance. All Subaru drivers will have access to EVgo’s mobile app for finding fast chargers, initiating, and monitoring charging sessions, and earning and tracking EVgo Rewards™ points towards free charging credits.

The 2023 Subaru Solterra is the automaker’s first all-electric SUV and its first battery-electric vehicle to be released globally. Slated to begin sales in mid-2022, the new Solterra features standard Subaru Symmetrical All-Wheel Drive, active safety technology and estimated range of over 220 miles.

“Subaru and EVgo share a commitment to performance, reliability, and being good stewards of the environment, which is why we’re excited to partner up to deliver convenient charging for Solterra drivers,” said David Sullivan, Product Marketing Launch Manager at Subaru. “We know that access to convenient and affordable charging is key to accelerating EV adoption, and the Subaru EVgo partnership will deliver just that for our first fully electric drivers.”

“EVgo has a long history of working with automakers leading the charge on EVs, and we are delighted to partner with Subaru to make sure Solterra drivers have convenient and reliable charging options,” said Cathy Zoi, Chief Executive Officer at EVgo. “We are looking forward to welcoming Subaru drivers to the EVgo network and supporting Subaru drivers on their urban and outdoor adventures.”

Today, more than 130 million people in the U.S. live within a 10-mile drive of an EVgo fast charger. EVgo maintains industry leading network reliability and focuses on building stations in convenient locations at grocery, retail and entertainment centers. EVgo stations feature charging stalls that range from 50 kW to high power 350 kW, charging vehicles up to 80% in 15-45 minutes(Actual charging speeds depend on the capability of the vehicle).

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

About Subaru of America, Inc.
Subaru of America, Inc. (SOA) is a wholly owned subsidiary of Subaru Corporation of Japan. Headquartered at a zero-landfill office in Camden, N.J., the company markets and distributes Subaru vehicles, parts and accessories through a network of more than 630 retailers across the United States. All Subaru products are manufactured in zero-landfill plants and Subaru of Indiana Automotive, Inc. is the only U.S. automobile manufacturing plant to be designated a backyard wildlife habitat by the National Wildlife Federation. SOA is guided by the Subaru Love Promise, which is the company’s vision to show love and respect to everyone, and to support its communities and customers nationwide. Over the past 20 years, SOA has donated more than $200 million to causes the Subaru family cares about, and its employees have logged more than 63,000 volunteer hours. As a company, Subaru believes it is important to do its part in making a positive impact in the world because it is the right thing to do. For additional information visit media.subaru.com. Follow us on Facebook, Twitter, and Instagram.

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 customers. 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/20220208005448/en/

For Media:
[e-mail]

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

[WeTheMarket]

Recent Developments Bode Well for EVgo Stock
EVGO stock is tremendously undervalued based on its potential
2/2/2021 · By Larry Ramer, InvestorPlace Contributor
https://investorplace.com/2022/02/recent-developments-bode-well-for-evgo-stock/

Two negative catalysts — a note from research firm Needham and concerns over the Federal Reserve tightening monetary policy — caused shares of EVgo (NASDAQ:EVGO) to plunge from their mid-November high. With EVGO stock off roughly 58% from that high, it’s clear to me that investors overreacted to these catalysts and that the selling is overdone.


EVgo fast charging station
Source: Sundry Photography / Shutterstock.com

Meanwhile, the bullish catalysts for the operator of the largest fast-charging public network for electric vehicles in the United States and EVGO stock appear only to have strengthened.

Why Investors’ Fears Are Overblown
On Dec. 28, EVGO fell as much as 12% following an analyst report from Needham in which the investment bank initiated coverage with a “hold” rating and no price target. “We believe the company’s strategy, astute management team, strong liquidity position and solid fundamentals will make it a formidable player in the space. However, we think long-term Street expectations are too aggressive,” the analyst wrote.

I’m not sure what the analyst means by “long-term Street expectations,” but the EV market is expanding rapidly and still in the early growth stage.

Given this, an EV charging company that has all the positive attributes Needham cited — along with great partnerships and first-mover advantage — could generate tens of billions of dollars in annual revenue in a few years. Yet, EVgo’s enterprise value is a paltry $575 million. That doesn’t make a whole lot of sense to me.

On the macro front, another contributing factor to the sell-off in EVGO stock was fears of more hawkish monetary policy. The specter of rising interest rates and the end of the Fed’s bond-buying program had investors abandoning growth stocks like EVGO. However, the Nasdaq’s rebound over the past four trading days appears to be signaling that investors are once again willing to take on some risk.

EVgo’s Positive Catalysts Have Strengthened
In previous columns, I identified the company’s alliance with General Motors (NYSE:GM) as a major positive catalyst for EVGO stock. Since the deal was announced in August 2020, the outlook for GM’s EV business has only improved.

For starters, the venerable American automaker is seeing strong demand for its electric vehicles. GM’s Cadillac Lyriq electric SUV sold out in less than 20 minutes. And GM execs said they had more than 125,000 hand-raisers for the GMC Hummer EV Pickup and SUV as of late November.

In early January, GM announced that it was developing electric versions of its popular Chevy Equinox EV and Blazer EV. And later that month, the automaker confirmed plans for a multibillion-dollar investment to convert a Michigan factory into an electric vehicle development hub.

This is all part of GM’s plan to dominate the EV market. As CEO Mary Barra said recently: “We want to lead in EVs. Full stop.”

So, I couldn’t think of a better partner for EVgo than GM. The two companies are working together to expand the EVgo network to 3,250 charging stalls in 75 metropolitan areas in at least 40 states by 2025.

What’s more, in another sign of strong demand, PlugShare, an EV charging information app owned by EVgo since mid-2021, said registrations doubled last year, with the number of global registered users topping 2 million.

The Bottom Line on EVGO Stock
GM’s ambitious EV plans and strong demand for its electric trucks and SUVs bode very well for EVgo, as does the rapid growth in the PlugShare app.

The current enterprise value of EVGO stock is tiny when compared with the company’s opportunity in the EV sector, which will ultimately be gigantic. Given this, I continue to recommend that long-term investors buy the shares.

On the date of publication, Larry Ramer held a long position in EVGO. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.

[Scotttrader80]

GLTY

[the_stockoracle]

Shares under 4 will be a gift

[WeTheMarket]

EVgo and Meijer Energize First of 5 New Public Fast Charging Stations in the Midwest
February 01 2022 - 07:00AM, Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87153583/evgo-and-meijer-energize-first-of-5-new-public-fas

Station launch marks EVgo’s continued charging infrastructure expansion with retail site host partners

EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and only public network powered by 100% renewable electricity, and Meijer, a Midwestern retailer, today announced the opening of the first EVgo public fast charging station at Meijer stores. EVgo’s latest stations with Meijer are part of EVgo and the retailer's previously announced partnership, and are capable of 100 kW to 350 kW fast charging. EVgo and Meijer's first sites under the partnership are in key Midwestern cities across Michigan and Ohio. The stations will add to the over 800 fast charging locations in EVgo’s network and build on its growing base of over 310,000 customer accounts – reflecting the company’s continued leadership in building out charging infrastructure and its mutually rewarding collaborations with retail site host partners.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220201005182/en/



“Our partnership with EVgo provides another way for us to serve our community and further our commitment to sustainability,” said Erik Petrovskis, Meijer Director of Environmental Compliance and Sustainability. “The EV charging stations provide a convenience to our customers and community, and we are excited to be a part of the transition to electric vehicles.”

“EVgo has long been committed to working with first class partners to provide our customers with a first class charging experience,” said Cathy Zoi, CEO of EVgo. “Between our shared dedication to protecting the planet and putting customers first, EVgo and Meijer are a natural fit. We look forward to building on our recent efforts around the Midwest to keep adding more EVgo stations to Meijer supercenter locations.”

EVgo and Meijer have both demonstrated leadership and commitment to sustainability for years. For over a decade, EVgo has provided access to convenient charging locations for hundreds of thousands of EV drivers, while Meijer has offered EV charging solutions for its customers at many supercenters for over a decade. The implementation of the new public fast charging stations comes on the heels of recent traction around EV adoption in the Midwestern region, as the governors of Illinois, Indiana, Michigan, Minnesota and Wisconsin recently established the Regional Electric Vehicle Midwest Coalition -- or “REV Midwest” -- in an effort to create jobs, lower carbon emissions and promote greater public health and safety. The retailer’s relationship with EVgo builds upon its existing sustainability initiatives, as well as those recently announced by REV Midwest, to increase access to EV charging infrastructure across its more than 250 supercenters within Michigan, Ohio, Indiana, Kentucky, Illinois and Wisconsin.

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.

About Meijer

Meijer is a Grand Rapids, Mich.-based retailer that operates 258 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois, Kentucky and Wisconsin. A privately-owned and family-operated company since 1934, Meijer pioneered the "one-stop shopping" concept and has evolved through the years to include expanded fresh produce and meat departments, as well as pharmacies, comprehensive apparel departments, pet departments, garden centers, toys and electronics. For additional information on Meijer, please visit www.meijer.com. Follow Meijer on Twitter @twitter.com/Meijer and @twitter.com/MeijerPR or become a fan at www.facebook.com/meijer.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220201005182/en/

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

For Media:
[e-mail]

[WeTheMarket]

EVgo and CBL Properties Partner to Expand Public Fast Charging at Retail Locations, Bringing Convenient Charging Amenities to Shoppers
January 27 2022, Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/87116054/evgo-and-cbl-properties-partner-to-expand-public-f

New station at Oak Park Mall in Overland Park, Kansas, is first EVgo station to go live in the state

EVgo Inc. (NASDAQ: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and only platform powered by 100% renewable electricity, and CBL Properties (NYSE:CBL) today announced a partnership to add EVgo fast charging to select retail locations, including the first EVgo station in Kansas. The partnership supports EVgo’s plans to expand its public network in response to increased demand for EV charging in new markets and the growing segment of EV drivers that rely on public charging. Visitors to the EVgo stations at CBL Properties can charge up to 80% in 15-45 minutes while they shop and run errands.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220127005373/en/



CBL Properties’ portfolio of nearly 100 properties across 24 states, is comprised of malls, outlets, lifestyle retail centers and open-air centers. The new charging station at Overland Park adds to the growing portfolio of operational EVgo sites at CBL Properties, including the Greenbrier Mall in Chesapeake, Virginia, the Volusia Mall in Daytona Beach, Florida, and an additional site in development at Laurel Park Place in Livonia, Michigan, slated to come online in early 2022.

“Adding EV charging to our retail properties benefits our customers, communities and helps us enhance our ESG commitments,” said Stephen Lebovitz, chief executive officer at CBL Properties. “Through partnerships, like this one with EVgo, we continue to develop projects and opportunities for our tenants and their employees and customers to further reduce the impact on our environment.”

“CBL and EVgo share a commitment to making a positive impact and we are excited to see our partnership expand to new regions, bringing EVgo’s first station to Kansas,” said Cathy Zoi, CEO of EVgo. “Providing fast charging amenities where people need to go as part of their everyday lifestyle is a priority for EVgo and we look forward to serving CBL’s tenants and customers across their portfolio.”

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.

About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 99 properties totaling 63.0 million square feet across 24 states, including 61 high-quality enclosed, outlet and open-air retail centers and five properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing, and profitable reinvestment in its properties. For more information visit cblproperties.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220127005373/en/

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

For Media:
[e-mail]

[Scotttrader80]

Shares under $8.00 what a gift!

[WeTheMarket]

Recent tweet on EVGO Tesla connectors

[Scotttrader80]

Watch for lows then go hunting, EV's arent disappearing

[nervepain]

What about the investors holding 3 times the current float that are now able to be sold on the open market seems they are going to have to bleed this one out for a while 3x current float. :/

[WeTheMarket]

PlugShare Platform Reaches 2 Million Registered Users Worldwide
Thu, January 13, 2022, 7:00 AM
https://finance.yahoo.com/news/plugshare-platform-reaches-2-million-120000979.html

EL SEGUNDO, Calif., January 13, 2022--(BUSINESS WIRE)--PlugShare, the world’s leading EV community and a part of the EVgo Inc. (Nasdaq: EVGO) family since mid-2021, today announced that its platform has reached over two million registered users globally. This triple-digit growth in user registrations comes on the heels of the platform surpassing over one million new app downloads over the course of 2021, further solidifying PlugShare’s position as the leading platform used by EV drivers for locating and selecting public chargers.

"PlugShare was pioneered by a group of software entrepreneurs whose vision was to simplify the charging experience for EV drivers. And it’s clearly working," said Cathy Zoi, CEO of EVgo. "With 2 million registered users contributing reviews, pictures, and more, it’s no wonder that the app continues to be the go-to platform for EV drivers around the world as EV adoption skyrockets. We’re thrilled with PlugShare’s recent milestones and look forward to celebrating many more ahead as EV momentum continues to build."

PlugShare is designed to be an interactive resource for EV drivers, providing them with information about available charging stations nearby or on planned trip routes, as well as offering a platform for sharing their feedback on stations, pictures, check-ins, and more. While anyone can download the PlugShare app for up-to-date charging station information across networks worldwide, only registered users can leave reviews of their charging experience, let other drivers know how long they plan to use a specific charging station, and communicate and share tips with other EV drivers to improve the charging experience. The growth and momentum of the PlugShare community continually enhances the accuracy of the PlugShare map and informs charger PlugScores – or numerical ratings that reflect the recent charging experiences of users. In 2021, PlugShare drivers provided over 1.3 million ratings of their charging experiences.

Registered PlugShare users can also take advantage of other interactive features in the app or on PlugShare.com, including the trip planner – an interactive and customizable tool that helps EV drivers better plan for trips by identifying relevant charging stations within charging networks, hotels, restaurants, rest areas, and more along their preferred route – and user messaging features, as well as submit comments, upload photos and leave reviews for specific stations. Registered users can also utilize Pay with PlugShare, a feature that enables drivers to pay for and activate public charging stations directly from the app on their mobile devices.

"From the early days with less than 5,000 EVs on the road, PlugShare has constantly been focused on connecting the EV community to make it easier for drivers," said Nick Wild, co-founder and President of PlugShare. "PlugShare surpassing 2 million registered users speaks volumes about how far the EV revolution has come. Our platform will continue to scale to support the continued exponential growth of EV adoption as PlugShare is poised to deliver even more exciting new features for both first adopters and new EV drivers 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/20220113005197/en/

Contacts

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

For Media:
[e-mail]

[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