![]() presence and team up with various automakers with EVs on sale or soon to go on sale. "EVgo's evolved from being a first mover in providing charging for the earliest generation of EVs, to today's market leader in deployment of metropolitan mass transit, in providing charging for fleets which share our vision for electrification, and in developing software that delivers delightful customized charging experiences for our customers," Zoi said.įounded in 2010 and acquired by New York-based LS Power in 2019, EVgo is one of several charging companies trying to grow its U.S. Since then, automakers such as General Motors, Ford, Volvo and Honda have announced all-electric goals in a similar timeframe.Īnd EV charging companies like EVGo are poised to benefit from the proposed $1.2 trillion federal infrastructure plan backed by President Joe Biden last week. Gavin Newsom signed a mandate for most new vehicles sold in the state to be electric by 2035. David Nanus will serve as chair of the EVgo Inc. Zoi and the rest of EVgo's former leadership will continue in their posts with the newly merged company. EVgo is here to do our part to ensure access to charging infrastructure is not an inhibitor of that market transformation but rather an enabler." ![]() "The question is no longer if transportation will electrify, but how quickly. "EVs are here, the time has come," said EVgo CEO Cathy Zoi ahead of the opening bell Friday. EVgo is banking on forecasts of 100 million battery electric vehicles on US roads by 2040, up from a little more than a million in 2020. ![]() The company has tied up several deals with businesses and major automakers amid a push to rapidly expand the United States charging network. Trading on the Nasdaq under the "EVGO" ticker, shares opened at $15 and closed at $15.10. It merged on July 1 with Climate Change Crisis Real Impact I Acquisition Corp.(CLII) to officially become EVgo Inc. 67% higher.Įl Segundo-based EVgo announced in January that it would join other EV companies going public via SPAC with a $2.6 billion valuation. One of the nation's largest EV charging firms, EVgo made its Wall Street debut on Friday but investors seemed underwhelmed.
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