EVgo Services LLC (EVGO)

[DBS]

Agree 100%!

[art2426]

Darn DILUTION does it every time. Hate that word!

[DBS]

Not crashing? Down 30% in 2 days is NOT ideal...

[Scotttrader80]

EVGO ran to $18.00 with much less last year, a repeat of that performance would be nice

[Pt3]

Offering but not crashkng why

[sharky]

Should easily double this year IMO



$EVGO

[WeTheMarket]

EVgo Inc. Reports First Quarter 2023 Results
May 09 2023 - 07:00AM
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/90999189/evgo-inc-reports-first-quarter-2023-results

Highlights
- Revenue grew to $25.3 million in the first quarter, representing an increase of 229% year-over-year.
- Network throughput reached 17.9 gigawatt-hours (“GWh”) in the first quarter, an increase of 124% year-over-year.
- Double-digit utilization realized in several new markets, including markets outside of California.
- Ended the first quarter with approximately 3,100 stalls in operation or under construction, with nearly 220 new stalls added to the EVgo network during the quarter.
- Added more than 67,000 new customer accounts in the first quarter, reaching approximately 614,000 overall at the end of the quarter.
- Announced expanded agreement with Chevron, with EVgo selected as an EV-charging provider of choice for Chevron and Texaco stations.
- Entered into a new agreement with Audible to bring trial memberships to EVgo customers later in 2023.

EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) today announced results for the first quarter ended March 31, 2023. Management will host a conference call today at 11:00 a.m. ET / 8:00 a.m. PT to discuss EVgo’s results and other business highlights.

Revenue increased to $25.3 million in the first quarter of 2023, compared to $7.7 million in the first quarter of 2022, representing 229% year-over-year growth. Revenue growth was primarily driven by year-over-year increases in charging and eXtend revenues.

Network throughput increased to 17.9 GWh in the first quarter of 2023, compared to 8.0 GWh in the first quarter of 2022, representing 124% year-over-year growth. The Company added approximately 67,000 new customer accounts during the first quarter, bringing the overall number of customer accounts to approximately 614,000 at quarter-end, an increase of approximately 63% year-over-year.

“First quarter revenue growth was fueled by triple digit throughput growth as network utilization continues to increase faster than operational stall growth and EV adoption, demonstrating the strength of our business model,” said Cathy Zoi, EVgo CEO. “EVgo is investing ahead of the mass adoption of EVs in the United States and installed a record number of new stalls during the quarter. We also announced an exciting expansion of our program with Chevron, which is designed to pave the way for fast charging at conveniently located gas stations across the country. We expect revenue to increase over the remainder of the year as we benefit from increasing EV adoption, the mobilization of new, faster stations, and the deployment of EVgo eXtend sites with our partners.”

Business Highlights

- Program with Chevron: EVgo and Chevron entered into a new agreement to offer Chevron locations across the U.S. a turnkey DC fast charging solution with a variety of ownership models, including EVgo eXtend. Through the agreement, Chevron and Texaco branded stations nationwide will have access to industry-leading fast charging equipment and integrated solutions from EVgo through both the Company’s traditional EVgo-owned offering as well as EVgo eXtend. Under the agreement, EVgo will provide hardware, design, and construction of up to 350kW charging at these sites, as well as operations and maintenance, and networking and software solutions.
- EVgo Advantage: Entered into a new agreement with Audible to bring trial memberships to EVgo customers later in 2023, making relevant audiobooks and Audible Original podcasts available to EV drivers while they charge.
- Stall Development: The Company ended the first quarter of 2023 with approximately 3,100 stalls in operation or under construction. EVgo added nearly 220 new DC fast charging stalls to its network during the quarter.
- Active Engineering and Construction (E&C) Stall Development Pipeline: The Company’s pipeline was approximately 3,500 stalls as of the end of the first quarter of 2023.
- EVgo eXtendTM: During the first quarter, the Company continued delivering charging equipment and pre-engineering work for projects under the Pilot Flying J/GM program, and began site mobilization in the second quarter of 2023.
- EVgo Autocharge+: Autocharge+ exceeded 10% of total charging sessions initiated.
- Fleet Partnerships: EVgo won contracts for a second site at MHX, a behind-the-fence, class 8 truck company, and a second site at a national food and beverage company -- both of which include EVgo Optima™, the Company’s proprietary fleet management software.
- PlugShare: Plugshare reached nearly 3.4 million registered users and achieved the milestone of 6.0 million check-ins since inception.
- Public-Private Partnership: EVgo was awarded $7.3 million from the California Energy Commission’s (“CEC”) California Electric Vehicle Infrastructure Project (“CALeVIP”) 2.0 program to deploy more than 100 350kW chargers across 19 locations in disadvantaged and/or low-income census tracts.
- Equity Issuance: In April 2023, the Company issued approximately 890,000 shares of Class A common stock with $5.7 million raised in net proceeds through an “at-the-market” equity offering.


Financial & Operational Highlights
The below represent summary financial and operational figures for the first quarter of 2023.

- Revenue of $25.3 million
- Network Throughput of 17.9 gigawatt-hours
- Customer Account Additions of approximately 67,000 accounts
- Gross Profit of $41 thousand
- Net Loss of ($49.1) million
- Adjusted Gross Profit of $6.4 million1
- Adjusted EBITDA of ($20.1) million1
- Cash Flows Used in Operating Activities of ($19.3) million
- Capital Expenditures of ($65.2) million

1Adjusted Gross Profit / (Loss) and Adjusted EBITDA are non-GAAP measures and have not been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”). For a definition of these non-GAAP measures and a reconciliation to the most directly comparable GAAP measure, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” included elsewhere in this release.

2023 Financial & Operating Guidance

EVgo is affirming 2023 guidance as follows:

Total revenue of $105 – $150 million
Adjusted EBITDA of ($78) – ($60) million*
Additionally, at year-end 2023, EVgo expects to have a total of 3,400 – 4,000 DC fast charging stalls in operation or under construction.

*A reconciliation of projected Adjusted EBITDA (Non-GAAP) to net income (loss), the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, which is excluded from adjusted EBITDA, cannot be reasonably calculated or predicted at this time without unreasonable efforts. For a definition of Adjusted EBITDA and a reconciliation to the most directly comparable GAAP measure for historical periods presented in this release, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” included elsewhere in this release.

Conference Call Information

A live audio webcast and conference call for EVgo’s first quarter 2023 earnings release will be held today at 11:00 a.m. ET / 8:00 a.m. PT. The webcast will be available at investors.evgo.com, and the dial-in information for those wishing to access via phone is:

Toll Free: [phone] (for U.S. callers)
Toll/International: [phone] (for callers outside the U.S.)
Conference ID: 6304708

This press release, along with other investor materials, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on that site.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since 2019 EVgo has purchased renewable energy certificates to match the electricity that powers its network. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes around 900 fast charging locations, 60 metropolitan areas and 30 states. EVgo continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

[WeTheMarket]

The 3 EV Charging Infrastructure Stocks You Shouldn’t Miss
These EV charging infrastructure stocks are poised to boom as EV sales accelerate
2h ago · By Larry Ramer, InvestorPlace Contributor
https://investorplace.com/2023/05/the-3-ev-charging-infrastructure-stocks-you-shouldnt-miss/

[WeTheMarket]

EVgo to Report First Quarter 2023 Results on May 9, 2023
May 02 2023 - 07:00AM
Business Wire
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/90924757/evgo-to-report-first-quarter-2023-results-on-may-9

EVgo Inc. (Nasdaq: EVGO), (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced that it will release its first quarter 2023 financial results on Tuesday, May 9, 2023. This release will be followed by a webcast hosted by members of the EVgo management team at 8:00 a.m. PT (11:00 a.m. ET).

EVgo First Quarter 2023 Webcast

When: Tuesday, May 9, 2023
Time: 8:00 a.m. PT (11:00 a.m. ET)
Live Webcast: https://investors.evgo.com/events-and-presentations

The call can also be accessed live over the telephone by dialing:

Toll Free: [phone] (for U.S. callers)
Toll/International: [phone] (for callers outside the U.S.)
Conference ID: 6304708

An archive of the webcast will be available for a period of time shortly after the call on the Events & Presentations page in the Investor Relations section of EVgo’s website.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through the purchase of renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network includes around 900 fast charging locations, 60 metropolitan areas and 30 states. EVgo continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

[sharky]

Bloomberg Ratings Report Gives EVgo, Inc. a Moderate Buy Rating

https://beststocks.com/bloomberg-ratings-report-gives-evgo-inc-a-modera/


$EVGO

[BottomBounce]

$EVGO vs $IDEX Electric Vehicle Charging stations
https://waveipt.com/

[sharky]

Revenues YOY:

EVgo Inc.'s quarterly revenue growth rate YoY of 283.50% ranked 180 out of 5747 companies in our database. https://t.co/dxw4trdJBb $EVGO

🚀🚀🚀🚀🚀 pic.twitter.com/gMp7XArZNm

— Income Statement Bot (@income_bot) April 13, 2023

$EVGO

[sharky]

More than 140 million people in the U.S. — and more than 80% of Californians — live within a 10 mile drive of an EVgo fast charger. With more than 850 fast charging locations, our charging network in more than 30 states serves over 60 metropolitan areas - and we plan to triple in size over the next five years.


https://www.evgo.com/company/

$EVGO

[Scotttrader80]

Not sure what your talking about. EVGO is placing new charging units EVERYWHERE

[SmokeSignals]

.40cents pps. coming> up 1 freakin cents pos.

[WeTheMarket]

EVgo Selected by California Energy Commission for Proposed Awards of $6.6 Million to Deploy More Than 100 New DC Fast Charging Stalls Across 17 Locations
April 04 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/90688930/evgo-selected-by-california-energy-commission-for

[WeTheMarket]

EVgo Inc. Reports Fourth Quarter and Full Year 2022 Results
March 30 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/90642563/evgo-inc-reports-fourth-quarter-and-full-year-202

Highlights
- Revenue grew to $27.3 million in the fourth quarter, representing an increase of 283% year-over-year driven by increasing throughput and execution of Pilot Flying J contract.
- For the full year 2022, revenue grew to $54.6 million, an increase of 146% over 2021.
- Network throughput reached 14.4 Gigawatt-hours (“GWh”) in the fourth quarter, an increase of 76% year-over-year.
2022 network throughput of 44.6 GWh grew 69% over 2021.
- Ended the fourth quarter with over 2,800 stalls in operation or under construction, with more than 180 new stalls added to the - EVgo network during the quarter and approximately 670 added during 2022.
- Added approximately 59,000 new customer accounts in the fourth quarter and approximately 224,000 during 2022, reaching approximately 553,000 overall at the end of 2022.

EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) today announced results for the fourth quarter and full year ended December 31, 2022. Management will host a conference call today at 11:00 a.m. ET / 8:00 a.m. PT to discuss EVgo’s results and other business highlights.

Revenue increased to $27.3 million in the fourth quarter of 2022, compared to $7.1 million in the fourth quarter of 2021, representing 283% year-over-year growth. For the full year 2022, revenue increased to $54.6 million, compared to $22.2 million for the full year 2021, an increase of 146% year-over-year and at the high end of the Company’s revenue guidance range. Revenue growth was primarily driven by retail charging, eXtend, and ancillary revenues.

Network throughput increased to 14.4 GWh in the fourth quarter of 2022, compared to 8.2 GWh in the fourth quarter of 2021, representing 76% year-over-year growth. For the full year 2022, network throughput reached 44.6 GWh, reflecting growth of 69% year-over-year. The Company added approximately 59,000 new customer accounts during the fourth quarter, bringing the overall number of customer accounts to approximately 553,000 at quarter-end, an increase of approximately 63% year-over-year.

“In 2022 EVgo achieved record revenue reflecting the continued growth of EVgo’s ultra-fast DC charging network, blue-ribbon partnerships, and industry-leading technology offerings,” said Cathy Zoi, EVgo’s CEO. “EVgo remains focused on operational excellence and continuing to strengthen our network by adding new fast charging locations and upgrading stalls on our public network. Committed to creating a seamless charging experience for EV drivers and fleet operators, EVgo added new technology features like Autocharge+, PlugShare Premium, charging with Amazon Alexa, and we expanded EVgo AdvantageTM and EVgo OptimaTM. We expect 2023 will be another banner year for EVgo as we expand our network and revenue base, and deliver financial results that demonstrate discipline, agility, and innovation in serving the rapidly growing EV sector.”

Business Highlights

- Stall Development: The Company ended the fourth quarter of 2022 with over 2,800 stalls in operation or under construction. EVgo added more than 180 new DC fast charging stalls to its network during the quarter and approximately 670 for the year.
- Active Engineering and Construction (E&C) Stall Development Pipeline: The Company’s pipeline grew to approximately 4,000 stalls as of the end the fourth quarter of 2022 versus approximately 3,100 at the end of the fourth quarter of 2021.
- EVgo eXtendTM: During the fourth quarter, the Company began delivery of charging equipment for projects under the Pilot Flying J/GM program.
- EVgo ReNewTM: In 2022 EVgo launched ReNew, an enhanced maintenance and upgrade program designed to ensure stations across the EVgo network meet its quality and technology standards. For the year, the Company upgraded more than 100 stalls and retired approximately 160 stalls.
- EVgo Autocharge+: After its nationwide launch in September 2022, Autocharge+ is nearing 10% of total charging sessions initiated in recent months.
- Fleet Partnerships: EVgo expanded its project development portfolio with an autonomous vehicle company, added a national food and beverage company as a fleet partner who will take advantage of Optima™, EVgo’s proprietary fleet management software, and announced a national program with Lyft to serve their high-volume EV driver network.
- Connect the WattsTM: In January 2023, EVgo’s “Connect the Watts” program announced its inaugural class of “EV Charging Heroes,” recognizing leaders in the utility, site host, equipment and contracting sectors who are driving progress towards an all-electric future.

Financial & Operational Highlights

The below represent summary financial and operational figures for the fourth quarter of 2022.

- Revenue of $27.3 million
- Network Throughput of 14.4 gigawatt-hours
- Customer Account Additions of approximately 59,000 accounts
- Gross Loss of ($1.1) million
- Net Loss of ($17.0) million
- Adjusted Gross Profit of $5.0 million1
- Adjusted EBITDA of ($20.1) million1
- Cash Flows Used in Operating Activities of ($1.5) million
- Capital Expenditures of ($66.4) million
- Equity Issuance of 1.6 million Class A common stock shares with $10.4 million raised in net proceeds through an “at-the-market” equity offering

The below represent summary financial and operational figures for full year 2022.

- Revenue of $54.6 million
- Network Throughput of 44.6 gigawatt-hours
- Customer Account Additions of approximately 224,000 accounts
- Gross Loss of ($5.7) million
- Net Loss of ($106.2) million
- Adjusted Gross Profit of $13.2 million1
- Adjusted EBITDA of ($80.2) million1
- Cash Flows Used in Operating Activities of ($58.8) million
- Capital Expenditures of ($200.3) million
- Equity Issuance of 1.6 million Class A common stock shares with $10.4 million raised in net proceeds through an “at-the-market” equity offering

1Adjusted Gross Profit / (Loss) and Adjusted EBITDA are non-GAAP measures and have not been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”). For a definition of these non-GAAP measures and a reconciliation to the most directly comparable GAAP measure, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” included elsewhere in this release.

[pauly3]

Good to see this move so much on the earnings report. I wonder when the company that EVgo buys their chargers from (Tritium) will come out of the shadows and start to be recognized.

[TucsonPhil]

Might be seeing a short squeeze here.

[Scotttrader80]

There are a lot of charging stations coming online, yet EVgo is the only company that offers a 2 hour charge versus a staggering 8 hour charge

thats a major advantage over the competition

[sharky]

All EV's will need charging stations of which there is a shortage of. Business will be ramping up big time for years to come IMO.


$EVGO EVcharging

[Scotttrader80]

EVgo's gonna get busy! https://fortune.com/2023/03/16/elon-musk-tesla-volkswagen-id2-electric-car-for-the-masses-unveiled-volkswagen/

[sharky]

Yesterday, the Biden administration announced $2.5 billion in new grants to speed up the creation of EV charging stations and alternative fueling infrastructure in underserved neighborhoods and communities. Dubbed as the Charging and Fueling Infrastructure (CFI) grant program, the funding will spur Biden’s goal of establishing a network of 500,000 public EV charging stations across the country by 2030 in an attempt to cut greenhouse gas emissions by at least 50% by the decade end.The $2.5 billion fresh funding will be doled out over a period of five years and will be split evenly into two parts. It comprises a $1.25 billion Community Program, which aims at building chargers for underserved locations in cities and communities. The other $1.25 billion Corridor Program would seek to establishing alternative fuel corridors for gasoline-free cross-country travel and long-haul trucking.
The $2.5 billion funding builds on $5 billion already earmarked for the National Electric Vehicle Infrastructure program to establish a nationwide network of EV chargers specifically along highways.Per the Department of Transportation, the fresh grants seek to “fill gaps in the national charging and alternative-fueling network.” Transportation secretary Pete Buttigie views this $2.5 billion funding as “another big step forward in creating an EV future that is convenient, affordable, reliable, and accessible to all Americans.” Quoting energy secretary Jennifer Granholm, "Extending EV charging infrastructure into traditionally underserved areas will ensure that equitable and widespread EV adoption takes hold.”

https://www.google.com/amp/s/www.zacks.com/amp/stock/news/2066134/3-stocks-in-focus-on-bidens-25b-grant-for-us-ev-chargers


$EVGO $DCFC

[sharky]

Yesterday, the Biden administration announced $2.5 billion in new grants to speed up the creation of EV charging stations and alternative fueling infrastructure in underserved neighborhoods and communities. Dubbed as the Charging and Fueling Infrastructure (CFI) grant program, the funding will spur Biden’s goal of establishing a network of 500,000 public EV charging stations across the country by 2030 in an attempt to cut greenhouse gas emissions by at least 50% by the decade end.The $2.5 billion fresh funding will be doled out over a period of five years and will be split evenly into two parts. It comprises a $1.25 billion Community Program, which aims at building chargers for underserved locations in cities and communities. The other $1.25 billion Corridor Program would seek to establishing alternative fuel corridors for gasoline-free cross-country travel and long-haul trucking.
The $2.5 billion funding builds on $5 billion already earmarked for the National Electric Vehicle Infrastructure program to establish a nationwide network of EV chargers specifically along highways.Per the Department of Transportation, the fresh grants seek to “fill gaps in the national charging and alternative-fueling network.” Transportation secretary Pete Buttigie views this $2.5 billion funding as “another big step forward in creating an EV future that is convenient, affordable, reliable, and accessible to all Americans.” Quoting energy secretary Jennifer Granholm, "Extending EV charging infrastructure into traditionally underserved areas will ensure that equitable and widespread EV adoption takes hold.”


$EVGO $DCFC

[WeTheMarket]

EVgo and Warner Bros. Pictures Bring the Power of Shazam! Fury of the Gods to EV Drivers with New Promotional Offer
March 14 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/90497354/evgo-and-warner-bros-pictures-bring-the-power-of

[WeTheMarket]

New Biden EV charger rules stress Made In America, force Tesla changes
By Jarrett Renshaw and Hyunjoo Jin
February 15, 2023
https://www.reuters.com/business/autos-transportation/new-biden-ev-charger-rules-stress-made-america-force-tesla-changes-2023-02-15/

Key quotes:

"The Biden administration on Wednesday issued long-awaited final rules on its national electric vehicle charger network that require the chargers to be built in the United States immediately, and with 55% of their cost coming from U.S.-made components by 2024."

"Companies that hope to tap $7.5 billion in federal funding for this network must also adopt the dominant U.S. standard for charging connectors, known as "Combined Charging System" or CCS; use standardized payment options; a single method of identification that works across all chargers; and work 97% of the time."

"The first tranche of the billions in federal funds will now be rolled out to states in upcoming weeks, forcing companies like Tesla, EVgo Inc (EVGO.O) and ChargePoint Holdings Inc (CHPT.N) to jockey for their share of the funds from state governments."

[WeTheMarket]

Factbox: Potential winners and losers from the new U.S. EV charging standards
February 15, 2023
https://www.reuters.com/technology/potential-winners-losers-new-us-ev-charging-standards-2023-02-15/

Relevant excerpt.

WINNERS:

EV CHARGING COMPANIES: Many, including Volkswagen's (VOWG_p.DE) Electrify America, ChargePoint(CHPT.N) and EVGo (EVGO.O), will accelerate the rollout of chargers due to the federal funding.

[WeTheMarket]

EVgo Advantage™ Expands to 22 Locations Providing Instant Offers and Promotions for EV Drivers
February 15 2023 - 07:00AM
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/90251733/evgo-advantage-expands-to-22-locations-providing

EVgo’s proprietary digital coupon platform now expanding to deliver on-the-spot promotions to customers charging at participating Cumberland Farms and Wawa locations

EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced that EVgo Advantage™ is now available at select Cumberland Farms and Wawa locations in Massachusetts, Connecticut, New York, Pennsylvania, Maryland, Virginia and Florida. As a proprietary coupon technology, EVgo Advantage sends EV drivers instant communications and in-store promotions to use while charging,* delivering more value to customers who shop and charge.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230215005352/en/

EVgo Advantage enables businesses that host fast chargers with EVgo to connect with their EV charging customer base by offering promotions that help drive engagement, increase sales, and generate customer loyalty. The program can increase foot traffic to participating retail site hosts stores and/or mobile applications, while also enhancing the charging experience for drivers. A 2022 survey conducted by EVgo found that 87% of EV drivers shop at local retailers while charging their vehicles.

“When EVgo first piloted EVgo Advantage in 2019, we knew it was one more way for us to deliver value to our drivers and site host partners. We’re thrilled to be able to offer EVgo Advantage™ at select Wawa and Cumberland Farms locations along the East Coast to make charging with EVgo even better than before,” said Jonathan Levy, Chief Commercial Officer at EVgo.

EVgo Advantage first launched at 10 Lucky/Lucky California locations in partnership with The Save Mart Companies. Now available in eight states, the growth of the program to date demonstrates how site host partners can leverage alternative ways to connect with customers.

For more information about the EVgo fast charging network and station locations, visit www.evgo.com.

*Drivers must opt in to EVgo marketing emails to receive in-store promotions.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through the purchase of renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables world-class charging experience where drivers live, work, travel and play.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005352/en/

For Investors:
[e-mail]

For Media:
[e-mail]

[WeTheMarket]

EVgo Featured in White House Fact Sheet.

FACT SHEET: Biden-Harris Administration Announces New Standards and Major Progress for a Made-in-America National Network of Electric Vehicle Chargers
FEBRUARY 15, 2023

Link https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/15/fact-sheet-biden-harris-administration-announces-new-standards-and-major-progress-for-a-made-in-america-national-network-of-electric-vehicle-chargers/

Relevant excerpt:

"Investments include:

Pilot Company, General Motors, and EVgo have partnered to build a coast-to-coast network of 2,000 high power 350 kW fast chargers at Pilot and Flying J travel centers along American highways. The nationwide network of up to 500 travel centers will enable long distance EV travel by connecting urban and rural communities. Today, the companies are announcing that the first 200+ chargers in this network are expected to be available for use by drivers in 2023."

[GorillaDaddy]

Huh? Main page? Evgo long and strong! $evgo

[furface]

Did they change the main page for investorhub? Anyone.

[WeTheMarket]

The nation's EV charging network is due to get a significant upgrade
A new study outlines the need for hundreds of new DC fast chargers across the country.
CHRIS TEAGUE
Feb 2nd 2023
https://www.autoblog.com/2023/02/02/electric-vehicle-dc-fast-charger-national-network-study/

[WeTheMarket]

EV owners report issue that “fries” cars when charging at Electrify America
By Simon Alvarez, Posted on January 29, 2023
https://www.teslarati.com/rivian-ford-chevy-fried-electrify-america-video/

A longtime EV owner and current Rivian R1T driver recently shared a rather disturbing incident while charging at an Electrify America station. The incident left the R1T “fried” and the owner stuck hours away from home. Unfortunately, this does not seem to be the first time that such an incident happened.

Rivian R1T owner @snkrticians noted that he was charging his all-electric truck at an Electrify America station when he heard a loud sound. The sound seemed to cause a number of error codes on the R1T, resulting in the vehicle being stuck in the charging stall. It ended up taking several hours before a technician was at the site.

Unfortunately for the Rivian owner, he was two hours away from home. Being unable to detach the charger from the R1T, the Electrify America technician reportedly suggested sawing off the charger to free the car, which the longtime EV owner found absurd. Fortunately, Rivian aided the R1T owner by providing him with rideshare credits so that he could come home.

What’s rather disturbing about the Rivian owner’s experience is that this is not the first time the issue was reported. Back in November, Ford F-150 Lightning owner Eric Roe posted about a very similar experience on Twitter. According to the Lightning owner, he was able to plug into an Electrify America charger just fine, but not long after the charging session started, he heard a loud sound. The charger then went dark and the Lightning displayed a number of error codes. The vehicle had to be towed from the station.

What’s unfortunate for the Lightning owner was that the vehicle had been back at the dealership since earlier this month due to one of its main battery modules failing since the Electrify America incident. The wait for parts is expected to be long. Ford service has reportedly advised the Lightning owner to ask the carmaker to buy the vehicle back.

In a response to the Rivian R1T owner’s experience on Twitter, a Chevy Bolt owner claimed to have the exact same experience at an Electrify America charger as well. The incident ended up causing the Bolt owner to reportedly spend $288 to get the all-electric hatchback towed to a dealership. Amidst these reports, electric vehicle owners are clamoring for Electrify America to issue a formal statement about the matter, and as soon as possible, issue a fix to ensure that no electric cars are “fried” anymore.

Teslarati has reached out to Electrify America for a statement on the matter. I will be updating this article if or when Electrify America responds to my inquiries.

[WeTheMarket]

Video on recent news regarding EVgo ReNew.

[WeTheMarket]

Video on recent news regarding partnership with Amazon.

[WeTheMarket]

No significant change in EVgo Institutional Ownership. https://fintel.io/so/us/evgo

[WeTheMarket]

People Love Electric Vehicles! Now Comes the Hard Part
EV sales are booming. But to keep the momentum going and make a dent in carbon emissions, the US will have to build a vast new charging infrastructure
January 12, 2023
https://www.wired.com/story/people-love-electric-vehicles-now-comes-the-hard-part/

[WeTheMarket]

EVgo Launches “EVgo ReNew™” to Enhance and Improve Fast Charging Experience Nationwide
January 12 2023
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/89967193/evgo-launches-evgo-renew-to-enhance-and-impr

New program doubles down on company’s reliability commitment to maximize uptime and deliver world-class driver experiences across new and legacy infrastructure

EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced EVgo ReNew™, an enhanced and comprehensive maintenance program designed to ensure stations across EVgo’s charging network meet its quality and technology standards. Through the program, EVgo plans to replace, upgrade, or in some cases retire, hundreds of stations over the coming year with the goals of enhancing charger availability and building range confidence for EV drivers of all types.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230112005222/en/


The EVgo ReNew program will replace, upgrade, and, in some cases, retire hundreds of stations over the course of the year in order to enhance and build up charger availability and reliability. (Photo: Business Wire)

EVgo ReNew is comprised of six core pillars that outline EVgo’s approach to reliability: Prevention, Diagnostics, Rapid Response, Analysis, Resilience, and Continuous Customer Service. This effort includes ramping up in-person preventative health checks of chargers; improving system monitoring, diagnostic, and recovery tools; replacing legacy equipment; and retiring problematic chargers if replacement or upgrade is impractical. EVgo ReNew builds on EVgo’s existing charger maintenance efforts, which include 24/7 monitoring and preventative health checks at charging stations, as part of its commitment to industry-leading uptime.

EVgo evaluates sites based on historical charger performance, current and forecast user demand, technical capacity at the location, and proximity to other fast charging stations. Where possible, EVgo will install new chargers with power levels up to 350kW. Through a combination of proprietary market analysis, data-driven insights and customer feedback, the program also identifies sites for decommissioning. In addition to site-level analysis, EVgo also works with site host partners to assess factors like charger placement, station size, and power levels to ensure charging options provide the greatest value for their customers and the community.

“More than a decade ago, EVgo was one of the first companies to install public fast chargers. The EVgo ReNew program represents our ongoing dedication to reliability as we proactively modernize legacy infrastructure and work to deliver the consistent, high-quality charging experience customers expect across our network,” said Cathy Zoi, CEO at EVgo. “As more EVs come to market with expanded ranges, large battery packs and higher power charging capabilities, EVgo is invested in building and maintaining a charging network fit to welcome and support an all-electric future for every driver.”

With EVgo’s network currently charging nearly 50 different EV models – and an anticipated total of more than 100 EV models available to the market in the next two years – EVgo ReNew is designed to ensure that all EV drivers will be able to take advantage of reliable, convenient and fast charging sessions across EVgo’s nationwide network.

Through the first three quarters of 2022, EVgo upgraded, replaced or removed 125 charging stalls and is actively working with partners and site hosts to evaluate upgrading, replacing, or removing hundreds of additional charging stalls in 2023.

For more information about EVgo ReNew, visit www.EVgo.com/ReNew. EVgo customers can also refer to the EVgo app and PlugShare to see current charger status and view notifications of maintenance or construction work that may impact station availability.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a world-class charging experience where drivers live, work, travel and play.

[WeTheMarket]

Here’s how many EV chargers the US has – and how many it needs
Avatar for Michelle Lewis
Michelle Lewis | Jan 9 2023
https://electrek.co/2023/01/09/heres-how-many-ev-chargers-the-us-has-and-how-many-it-needs/

[WeTheMarket]

EVgo and Amazon Partner to Enable EV Drivers to Locate and Pay for Charging with Alexa
January 05 2023 - 09:00AM
https://ih.advfn.com/stock-market/NASDAQ/evgo-EVGO/stock-news/89917456/evgo-and-amazon-partner-to-enable-ev-drivers-to-lo

EVgo is Amazon’s first charging network partner for its voice-initiated charging and payment experience

EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced a partnership with Amazon to support an Alexa-enabled EV charging experience. This collaboration will allow drivers to ask Alexa to help them find and navigate to nearby EV charging stations, as well as initiate and pay for charging sessions at EVgo stations seamlessly. The companies plan to roll out the in-vehicle functionality to Alexa-enabled vehicles as well as automotive accessories like Echo Auto later this year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230105005303/en/


EV drivers will be able to ask Alexa to help them find, navigate to, and pay for public charging spots through a simple voice request such as, “Alexa, find an EV charging station near me.” (Photo: Business Wire)

“We want Alexa to be useful for customers in their everyday lives, and EV charging is a great example of a task that can be simplified and made more convenient through the power of AI,” says Anes Hodžic, Vice President, Amazon Smart Vehicles. “By partnering with EVgo, we’re bringing Alexa’s AI and multi-modal experiences to improve the EV charging experience for drivers and streamline the process of locating, initiating and paying for a charging session.”

Amazon’s Alexa-enabled EV charging experience is designed to leverage PlugShare™, the world’s leading EV community and a part of the EVgo Inc. family, as well as EVgo Inside™. Integrated with the Alexa app, the PlugShare API will allow customers to find nearby charging stations, access its comprehensive public EV charging map and ultimately take advantage of a seamless charging experience built from over a decade of serving the largest community of EV drivers in the world. With EVgo Inside integration, customers can also register a new EVgo account, find EVgo charging stations, initiate a charging session, and complete payment–all from within their Alexa app. In the future, customers will also be able to view real-time charger availability and view session and billing information.

“EVgo and Amazon’s shared principles of being customer-centric and committed to a sustainable future make innovative experiences like voice-initiated charging possible,” said Cathy Zoi, CEO at EVgo. “From Autocharge+ to charging with Alexa, EVgo is committed to continuing to raise the bar for convenience of EV ownership for our customers. EVgo is proud to be Amazon’s first charging network partner to enable this Alexa experience, and support its Climate Pledge to achieve net-zero carbon emissions by 2040.”

The collaboration with Amazon comes as EVgo continues to grow its base of partners across industries, demonstrating its ability to advance shared sustainability and electrification goals through a versatile set of charging solutions and technology offerings. Through this partnership, Amazon customers can access over 150,000 U.S. public charging stations listed on PlugShare.

Voice-initiated charging and payment builds on EVgo’s commitment to enhancing the EV driver experience, with the company’s recent launch of Autocharge+ allowing drivers to initiate a charging session in seconds by simply plugging in.

For attendees at CES 2023, taking place in Las Vegas, NV from January 5 to January 8, a high-power 350kW EVgo fast charger will also be highlighted as part of the Amazon for Automotive experience at booth #4001 in the West Hall of the Las Vegas Convention Center.

About EVgo

EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through EVgo eXtend™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables world-class charging experience where drivers live, work, travel and play.

[WeTheMarket]

EVgo Institutional Ownership currently at an all-time high. https://fintel.io/so/us/evgo

[WeTheMarket]

Momentum builds but EV charging remains “work in progress”
TE Connectivity summarises the developments made in the push towards e-mobility, and the challenges that remain.
By Gargi Mirle, December 22, 2022
https://www.automotiveworld.com/articles/momentum-builds-but-ev-charging-remains-work-in-progress/

This year marks an important anniversary in electric vehicle (EV) technology: the tenth anniversary of the first supercharger station opened by Tesla in Los Angeles in September 2012. Although, a decade has passed, the availability of quick and convenient charging is still cause for concern for many prospective customers. According to the US Department of Energy’s Alternative Fuels Data Center, there are currently 46,000 public EV charging stations in the US, with more than 13,000 of them in California. However, thousands more are needed to respond to the increase in EV demand and the industry’s shift away from internal combustion engine (ICE) cars.

“With any new technology naturally comes an adoption curve,” points out Qiong Sun, Vice President of TE Connectivity’s Global E-mobility Solutions business. In the case of EV adoption, while there are distinct barriers acting as speed bumps, there are also many reasons for its recent acceleration. Sun explains that the industry is working to deliver new innovations around improved charging capabilities and performance to overcome the remaining barriers to EV adoption.

“Most automotive consumers, whether in the market for an ICE or an EV, generally look for a combination of safety, reliability, creature comfort, and performance,” says Sun. Prospective EV customers have an additional factor to consider: energy storage capacity. The biggest hurdles for prospective EV customers are concern for how far the car can go on a single charge, and how long it takes to recharge the battery. “There is a combination of range anxiety and worry about lengthy charging times,” Sun explains. “The industry is tackling this with improved battery technology, including putting more energy-dense batteries into EVs.”

A work in progress
The current charging infrastructure is not nearly in the state it needs to be to support the projections of 50% of all cars being EVs in the next ten years, but she maintains that charging station infrastructure is a work-in-progress across the globe: “Most countries are committed to building more charging stations. This will go a long way toward helping to bring down charging anxiety relative to where it is now.”

Sun cites the European Union as an example. In Europe, there are currently about 400,000 fast charging stations compared to 47,000 in the US. The EU has committed to increasing that number to one million by 2025. In the US, the government has proposed federal minimum standards of at least four public charging ports every 50 miles along a highway with the goal of 500,000 charging stations across the country by 2030. “The proliferation of charging stations will give EV drivers the ability to charge their vehicles when they need to, greatly relieving charge anxiety,” states Sun.

“While the number of charging stations is certainly important, the time it takes to recharge is just as significant,” declares Sun. She predicts that EV architectures are evolving toward higher voltages, up to over 800 volts, to allow for much faster charging. These high voltages require the connections to be properly maintained to avoid issues, such as a possible loss of energy in the form of I2R losses, or worse, safety issues resulting from extremely high temperatures. Engineering new material surfaces, including new alloys and plastics, makes possible new connectivity solutions that address these safety concerns. “New technologies in engineered surfaces and resins are making reliable, repeatable, high powered charging a reality.” Sun stresses that “reliability is so crucial in the case of the EV powertrain, with such huge amounts of power at play, quite contrary to the low voltage architectures of ICE vehicles.”

The current charging infrastructure is not nearly in the state it needs to be to support the projections of 50% of all cars being EVs in the next ten years

As charging station technologies evolve, Sun acknowledges that standardisation is an important factor. She maintains, “It is not only the responsibility of the OEMs, but the responsibility of leading automotive suppliers as well, to adhere to accepted standards. These companies bring a combination of their own philosophies and architectures. Supplier engineers have been working on the electrification of the powertrain for over a decade and have developed very broad portfolios. Those broad portfolios represent a collection of shared knowledge which leads to constantly improving solutions and eventually standardisation based on the very best ideas.” Along with standardisation, the idea of battery swap technology may become a reality down the road, particularly for electrified commercial vehicles, which have predictable and dedicated routes, Sun adds.

Gaining momentum
Despite the barriers of charging and range anxiety, Sun declares that EVs have gained massive momentum in recent years: “In 2019 EVs and hybrid vehicles were just 6% of vehicles produced (five million), but production in 2022 has tripled and is now at 18% of global passenger car production, forecasted to rise to 25% in 2023. We expect to see more than 20 million EVs produced in 2023.” She emphasises that these are not incremental changes, asserting, “These are dramatic changes to the number of EVs being produced, indicating a significant shift in buyer behavior. Automakers are responding by rewriting their business models and investing billions of dollars into EV development.”

A recent global study conducted by Ernst and Young provides further evidence of this dramatic shift to EVs. According to the EY Mobility Consumer Index 2022 study, more than half of worldwide consumers planning to purchase a car will choose a fully electric, plug-in hybrid, or hybrid vehicle.

Sun acknowledges that the majority of EVs being produced at today are in the luxury car segment (with the exception of China). She maintains, “Over time we will see a broad range of models made available to all types of buyers, thanks to evolving technology and increased production that will allow for even lower costs and increased volume.”

“EV performance also plays a role in the shift,” says Sun. “Most EVs perform well in terms of torque and acceleration, with the ability to produce peak torque from a standstill. EVs provide an exciting and fun driving experience. They combine with the latest technologies to create a smart, connected vehicle that offers great handling and a quiet, smooth, and comfortable ride.”

Sun elaborates, “This allows OEMs to focus on delivering a better user experience than traditional ICE car. When they add scale, EVs simply cost less in terms of overall ownership due to fewer parts and longer lifespans.”

Another driving force behind the global shift to EV production is a commitment around the world to reduced emissions. “The COVID-19 pandemic could have easily been a time for governments to ease their postures on emissions, but they did not let up in this regard,” comments Sun. “Instead, they accelerated the incentives for electrified powertrains and disincentivised conventional combustion engine cars.” These government incentives have provided added impetus to OEMs to pivot their investments toward EVs.

Government subsidies have influenced OEMs to focus on EV development just as they have focused on other subsidised vehicle technologies throughout the years. “When diesel engines arrived on the scene, governments invested heavily in this new technology that would provide 30% more energy density compared to gasoline engines. And diesel engines took off,” says Sun. “Since then, it has been realised that diesel engines release particulate emissions or nitrogen oxide And so, the government subsidies are shifting to EV technologies for two reasons: it accelerates early adopters toward the new technology, and it gives a clear signal to industries as to where to invest capital. In an industry like automotive that is capital-intense, the clarity of future strategy becomes very important.”

To continue innovating and developing improved EV technologies, suppliers are partnering with OEMs by providing value in engineering. “Suppliers have a responsibility to stay ahead of the curve and imagine what’s coming in the future,” says Sun.

Norway is a key example of the acceleration of EV adoption. Right now, more than 70% of new cars registered in Norway are EVs. Sun asserts, “If you extrapolate that to the rest of the world, you can easily see that the ‘ICE age’ is coming to an end.”

About the author: Gargi Mirle is Head of Sales for TE Connectivity’s Auto Americas Business

[Scotttrader80]

Start your charge at Great Lakes Crossing Outlets in Auburn Hills, MI. While you're shopping, grabbing a bite, or getting in a quick workout, charge your EV with up to 100kW high-power chargers. #EVgoingtoMichigan pic.twitter.com/Gf3rbY7LWs

— EVgo Fast Charging Network (@evgonetwork) December 15, 2022

[WeTheMarket]

Video recording of yesterday's National EV Charging Initiative Summit at the following link https://www.evcharginginitiative.com/live-stream?mc_cid=20bca373e7&mc_eid=2cf8c91e86

During the presentation by Jennifer Granholm, Secretary, U.S. Department of Energy, she advertised the following three sites:
- https://driveelectric.gov/
- https://cleancities.energy.gov/
- https://www.energy.gov/eere/vehicles/vehicle-technologies-office

[WeTheMarket]

The National EV Charging Western Summit 2022

By The National EV Charging Initiative
Wed, December 14, 2022, 9:00 AM – 12:00 PM PST

Location: Online
Register at: https://www.eventbrite.com/e/the-national-ev-charging-western-summit-2022-tickets-445318147567

You'll hear from top experts in EV Charging, ranging from state and national public sector representatives, to thought leaders in the industry.



About this event
3 hours

PIVOT TO THE STATES for BOLD ACTION on Electric Vehicle Charging

The National EV Charging Initiative seeks to spur bold actions in the public and private sectors to fully realize the opportunities presented by the Infrastructure Investment and Jobs Act. Working together, we will go beyond ‘Business as Usual’ to address financing challenges, leverage our progress to date, and unlock public and private capital to scale infrastructure. We will execute this in a way that brings good jobs at good wages and economic growth to communities across America, ensuring that those benefits reach historically marginalized communities.

The National EV Charging Summit sets a vision and delivered a tangible framework for a true public-private partnership. 35 national and regional organizations representing diverse interests, hundreds of companies, and millions of individual members and workers have joined the Initiative, and contributed to and endorsed a set of policy guidelines.

We now turn to the States where the most important activities to ensure successful deployment of the national EV charging network occurs.

Join us for this FREE event for everyone to learn how the states will create action on #EV charging and rollout investment dollars.

[WeTheMarket]

Why America Doesn’t Have Enough EV Charging Stations
By Jennifer Hiller
Nov. 29, 2022
https://www.wsj.com/articles/ev-charging-stations-electric-vehicles-11669737656

Gas stations spar with utility companies, rural areas predict years of losses on chargers, spotty equipment threatens reliability: The U.S. EV charging network is a mess. The U.S. has just 11,600 points where any EV can charge quickly, according to the research group Atlas Public Policy.

[GorillaDaddy]

Yes sir! Looks like you’re my road dog on this one. Let’s get it!

[Scotttrader80]

EVGO is signing contracts all over the place, in due time they'll corner the market.

Take advantage of these dips!!! I know I am

[GorillaDaddy]

Yep! I did a road trip in a e-tron. We saw charge point, blink and evgo—- only evgo did the worthwhile charging and at high out puts.

The rest were low quality chargers. Pitiful.

Wonder who is winning the new complex parking spots (underground or wherever)

[Scotttrader80]

EVGO does bounce around, last time she popped to $18.00. Now with the EV market expanding, folks are enjoying a 2 hour fast charge opposed to camping out for 8 hours when traveling. All win wins for us