EVgo, GM Expand Collaboration on EV Fast Chargers Across U.S.
November 09 2021 - 8:09AM
Dow Jones News
By Michael Dabaie
EVgo Inc. said it expanded its collaboration currently under way
with General Motors Co. for electric vehicles' fast chargers across
the U.S.
EVgo, owner and operator of a public fast charging network for
EVs, and GM had previously said they were tripling the EVgo
network, with plans to build 2,750 charging stalls through
2025.
Due to demand for charging infrastructure and new vehicles
coming to market in the later years of the program, EVgo and GM
said they expanded their build plan to add another 500 high-powered
DC fast charging stalls, bringing the total to 3,250 through 2025
and extending the geographic reach from 40 metropolitan markets to
52.
Shares rose 30% premarket to $17.44 after closing up 35% the
previous session.
Stations that are part of the program are now live in eight
states, including in Georgia, Florida, Pennsylvania, Colorado and
North Carolina, EVgo said.
The joint program will further increase public access to
charging, including in future markets in Alabama, Wisconsin,
Kentucky, Michigan, Ohio and Texas, the company said. This includes
drivers who live in multiunit dwellings, rent their homes and can't
install chargers, or might not otherwise have access to home or
workplace charging.
"DC fast charging is crucial to our goal of putting everyone in
an EV and making electrification convenient," said Rick Spina, GM
vice president of AV/EV commercialization and infrastructure.
"Growing the geographic footprint of our collaboration with EVgo to
even more metropolitan areas will be key to making fast charging
accessible to more customers."
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 09, 2021 07:54 ET (12:54 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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