EVGO EVgo Inc

By Michael Dabaie

J.P. Morgan Chase & Co.'s Chase U.S. consumer and commercial banking business said it would work with EVgo Inc. to pilot public fast electric vehicle charging stations across 50 of its U.S. branches beginning this summer.

Shares of transportation electrification company EVgo were up 2.4% to $12.47 premarket.

Fast chargers will be installed at some Chase branch locations in states like California, Indiana, Illinois, New York, Oregon, and Pennsylvania, giving access to 100kW and 350kW chargers that can charge vehicles as much as 80% in 15 to 45 minutes.

The bank said it expects to have all stations available for use by the summer of 2023.

Chase said the move adds to its efforts to promote environmental sustainability in its retail locations as it also aims to expand on-site solar power to about 400 additional branches by the end of 2022.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

April 07, 2022 09:40 ET (13:40 GMT)

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