New program doubles down on company’s
reliability commitment to maximize uptime and deliver world-class
driver experiences across new and legacy infrastructure
EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public
fast charging networks for electric vehicles (EVs), today announced
EVgo ReNew™, an enhanced and comprehensive maintenance program
designed to ensure stations across EVgo’s charging network meet its
quality and technology standards. Through the program, EVgo plans
to replace, upgrade, or in some cases retire, hundreds of stations
over the coming year with the goals of enhancing charger
availability and building range confidence for EV drivers of all
types.
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The EVgo ReNew program will replace,
upgrade, and, in some cases, retire hundreds of stations over the
course of the year in order to enhance and build up charger
availability and reliability. (Photo: Business Wire)
EVgo ReNew is comprised of six core pillars that outline EVgo’s
approach to reliability: Prevention, Diagnostics, Rapid Response,
Analysis, Resilience, and Continuous Customer Service. This effort
includes ramping up in-person preventative health checks of
chargers; improving system monitoring, diagnostic, and recovery
tools; replacing legacy equipment; and retiring problematic
chargers if replacement or upgrade is impractical. EVgo ReNew
builds on EVgo’s existing charger maintenance efforts, which
include 24/7 monitoring and preventative health checks at charging
stations, as part of its commitment to industry-leading uptime.
EVgo evaluates sites based on historical charger performance,
current and forecast user demand, technical capacity at the
location, and proximity to other fast charging stations. Where
possible, EVgo will install new chargers with power levels up to
350kW. Through a combination of proprietary market analysis,
data-driven insights and customer feedback, the program also
identifies sites for decommissioning. In addition to site-level
analysis, EVgo also works with site host partners to assess factors
like charger placement, station size, and power levels to ensure
charging options provide the greatest value for their customers and
the community.
“More than a decade ago, EVgo was one of the first companies to
install public fast chargers. The EVgo ReNew program represents our
ongoing dedication to reliability as we proactively modernize
legacy infrastructure and work to deliver the consistent,
high-quality charging experience customers expect across our
network,” said Cathy Zoi, CEO at EVgo. “As more EVs come to market
with expanded ranges, large battery packs and higher power charging
capabilities, EVgo is invested in building and maintaining a
charging network fit to welcome and support an all-electric future
for every driver.”
With EVgo’s network currently charging nearly 50 different EV
models – and an anticipated total of more than 100 EV models
available to the market in the next two years – EVgo ReNew is
designed to ensure that all EV drivers will be able to take
advantage of reliable, convenient and fast charging sessions across
EVgo’s nationwide network.
Through the first three quarters of 2022, EVgo upgraded,
replaced or removed 125 charging stalls and is actively working
with partners and site hosts to evaluate upgrading, replacing, or
removing hundreds of additional charging stalls in 2023.
For more information about EVgo ReNew, visit www.EVgo.com/ReNew.
EVgo customers can also refer to the EVgo app and PlugShare to see
current charger status and view notifications of maintenance or
construction work that may impact station availability.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building
and operating the infrastructure and tools needed to expedite the
mass adoption of electric vehicles for individual drivers,
rideshare and commercial fleets, and businesses. Since its founding
in 2010, EVgo has led the way to a cleaner transportation future
and its network has been powered by 100% renewable energy since
2019 through renewable energy certificates. As one of the nation’s
largest public fast charging networks, EVgo’s owned and operated
charging network features over 850 fast charging locations –
currently serving over 60 metropolitan areas across more than 30
states – and continues to add more DC fast charging locations
through EVgo eXtend™, its white label service offering. EVgo is
accelerating transportation electrification through partnerships
with automakers, fleet and rideshare operators, retail hosts such
as grocery stores, shopping centers, and gas stations, policy
leaders, and other organizations. With a rapidly growing network,
robust software products and unique service offerings for drivers
and partners including EVgo Optima™, EVgo Inside™, EVgo Rewards™,
and Autocharge+, EVgo enables a world-class charging experience
where drivers live, work, travel and play.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements are based on management’s current
expectations or beliefs and are subject to numerous assumptions,
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
These forward-looking statements include, but are not limited to,
express or implied statements regarding EVgo’s expectations and
plans for its ReNew program, including the scope and duration of
the program; the number of stalls and chargers targeted through the
program; and the anticipated benefits of the program. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of EVgo’s management, and are not predictions of actual
performance. There are a significant number of factors that could
cause actual results to differ materially from the statements made
in this press release. See “Risk Factors” in EVgo’s Annual Report
on Form 10-K filed with the SEC on March 24, 2022, as well as its
other filings with the SEC, copies of which are available on EVgo’s
website at investors.evgo.com, and on the SEC’s website at
www.sec.gov. All forward-looking statements in this press release
are based on information available to EVgo as of the date hereof,
and EVgo does not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were made,
except as required by applicable law.
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