EVgo
| Company type | Public |
|---|---|
| Industry | Electric vehicle infrastructure |
| Founded | 2010 |
| Headquarters | Los Angeles , United States |
Area served | United States (35 states) |
| Products | Electric vehicle fast charging stations, PlugShare app (via acquisition) |
| Website | evgo |
EVgo Inc. stands as a prominent fast charging network for electric vehicles in the United States, boasting over 950 locations as of August 2023. Operating across 35 states, EVgo’s charging stations are compatible with all leading automobile manufacturers.
History
Established in 2010, EVgo originated from a $100 million investment directive stemming from a settlement between NRG Energy and the California Public Utilities Commission. The company initially concentrated on deploying public EV chargers. Ownership shifted twice: first acquired by Vision Ridge Partners in 2016, then by LS Power in 2020.
On July 2, 2021, EVgo became a publicly traded company listed on NASDAQ under the ticker EVGO. During the same month, it enhanced its technological and customer engagement capabilities by purchasing Recargo, Inc., the creator of the widely used PlugShare app, for $25 million.
In June 2022, EVgo forged a partnership with General Motors (GM) to broaden charging accessibility for GM vehicles and launched the EVgo eXtend initiative alongside GM and Pilot Company. This project targets the installation of 2,000 high-powered (350 kW) fast chargers at Pilot and Flying J travel centers nationwide, strengthening EVgo’s footprint along critical travel corridors. At CES 2023, EVgo revealed a collaboration with Amazon to enable Alexa-equipped vehicles to find, reserve, and pay for charging stations through voice commands, with plans for deployment later that year.
By August 2023, EVgo had installed its milestone 1,000th DC fast charger in Woodridge, Illinois. As of December 2023, new EVgo eXtend stations were operational in 17 locations across 13 states.
Reflecting swift growth driven by increasing electric vehicle adoption, EVgo surpassed one million registered customers by May 2024—a fourfold rise since April 2020. In September 2024, EVgo and GM announced an expansion plan to add 400 fast-charging stalls at key urban sites featuring premium amenities such as protective canopies and enhanced security measures to improve user experience.
Operations
EVgo’s charging infrastructure supports CCS Combo 1, CHAdeMO, and in select areas, North American Charging System (Tesla) connectors. Tesla owners can also utilize CCS and CHAdeMO adapters for compatibility.
The company maintains partnerships with automakers including GM, Honda, and Toyota, offering network access or discounted rates. In 2022, EVgo introduced Plug and Charge technology for compatible GM vehicles and Autocharge+ for CCS-compatible and Tesla vehicles using CCS adapters, facilitating seamless automatic payment upon connection.
Charging stations are frequently situated at convenience stores and retail locations with parking facilities, allowing customers to shop while their vehicles charge. The company is expanding into multi-family residential properties in California supported by government grants such as $3.6 million awarded by the California Energy Commission. Additionally, EVgo supplies power to a fleet of Kenworth T680E electric trucks operating at logistics provider MHX’s facility in Fontana, California.
Discount programs are available through collaborations with government entities, automakers, and rideshare companies like Uber and Lyft. A partnership with Hertz provides special charging rates nationwide for electric vehicle renters.
In November 2023, EVgo broadened its collaboration with regional grocery chain Meijer, deploying fast chargers featuring up to six 350 kW stalls per location across Ohio to serve the Midwest market.
By December 2024, EVgo secured $1.25 billion in funding from the U.S. Department of Energy aimed at installing roughly 7,500 additional charging stalls—potentially tripling its existing network capacity and accelerating company growth.
See also
External links
- Articles with short description
- Charging stations
- Electric vehicle infrastructure developers
- Companies based in Los Angeles
- Technology companies based in Greater Los Angeles
- American companies established in 2010
- Companies listed on the Nasdaq
- Technology companies established in 2010
- 2010 establishments in California
- Companies of the United States by year of establishment
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