EVgo Announces New Nationwide Plan Options, New Loyalty Program, and Innovative Pricing Pilot in California
August 16 2021 - 3:00PM
Business Wire
Nation’s largest public fast charging network
for EVs debuts kWh and time-of-use pricing in CA, new EVgo Plus™
plan and EVgo Rewards™ nationwide to deliver more benefits for
loyal EVgo Customers
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 new pricing plans, a
new loyalty program called EVgo Rewards™, and statewide
kilowatt-hour (kWh) and time-of-use (TOU) pricing pilots in
California. The company is also rolling out location-based pricing
for customers in San Francisco and Los Angeles.
Next month, the updated Member plans and the new EVgo Plus™
subscription will take effect nationwide, and EVgo’s fast chargers
in California will switch from per-minute rates to kWh pricing with
three time-of-use windows: early-bird (12am-8am), on-peak
(4pm-9pm), and off-peak (8am-4pm and 9pm-12am).
The new EVgo Plus subscription plan unlocks deeper discounted
rates and other benefits for heavy users. EVgo will be expanding
the EVgo Rewards program nationwide and enrolling all active
customers into the loyalty program. Drivers can earn 5 points for
every dollar spent on charging sessions with EVgo, with additional
opportunities to earn points towards free charging sessions.
Through these new innovative benefits, the more drivers charge with
EVgo, the more they can save.
EVgo’s expansion of customer pricing options to suit different
driving patterns is taking place as the company also accelerates
growth in station deployment, expands into new geographies,
maintains a 98% network uptime and a 24/7 customer service call
center. By charging by the kWh with TOU and location-based pricing,
drivers will pay for the energy they use at a rate that reflects
the costs related to that location, local utility rates, EVgo
network congestion, and time of day.
EVgo has designed a pricing structure that provides flexibility
and customer choice. The California TOU program is the first
statewide time-of-use pricing pilot in the industry and data from
this initial California rollout will help inform how EVgo
implements innovative pricing in other markets in the future.
EVgo’s transition to TOU rates reflects the role of EV charging
in power grid load management and the importance of the EV charging
industry working in concert with utilities to support the growth of
clean sources of electricity. EVgo’s location-based pricing pilot
will explore additional options for aligning pricing with other
station attributes, including environmental and social justice
considerations (based on California’s CalEnviroScreen), traffic
congestion, and other market dynamics. Prices for each station will
be visible in all relevant locations, including the EVgo App and on
PlugShare and customers can find more details on EVgo’s new pricing
page.
“As we rapidly expand our charging network, EVgo continues to
invent and innovate,” said Cathy Zoi, EVgo’s CEO. “With EVgo
rolling out new super high power fast chargers in anticipation of
the improved battery capacities of new EV models, shifting to kWh
and time of use rates will better reflect the value delivered by
fast charging while also benefitting the grid and our ongoing
environmental justice efforts. I’m also extremely excited about
EVgo Rewards, another software innovation to deliver free charging
and other goodies to loyal EV drivers and enhance the driver
experience for our more than 275,000 EVgo customer accounts.”
EVgo now has more than 800 public fast charging locations across
the U.S. ranging from 50 kW through 350 kW and more than 2,000 new
chargers in Active Engineering & Construction Pipeline
stages.
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 275,000 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/20210816005630/en/
EVgo
For Investors: Ted Brooks, VP of Investor Relations
investors@evgo.com 310-954-2943
For Media: press@evgo.com
EVgo (NASDAQ:EVGO)
Historical Stock Chart
From Sep 2024 to Oct 2024
EVgo (NASDAQ:EVGO)
Historical Stock Chart
From Oct 2023 to Oct 2024