EVgo Announces Plans to Expand NACS Deployments
June 12 2023 - 3:49PM
Business Wire
Recent Announcements by Tesla, GM, and Ford
Underscore Acceleration of Deployments That Can Help to Spur Faster
EV Sales, Throughput Growth on EVgo and Other Networks
EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the
nation’s largest public fast charging networks for electric
vehicles (EVs), today announced that the company will be adding
North American Charging Standard (NACS) connectors to its fast
charging network across the country following the recent
announcements by Ford and General Motors (GM) that they will be
leveraging NACS starting some time in 2025.
"EVgo first deployed integrated Tesla connectors in 2020, and
with the recently announced expansion of the number of automakers
using the NACS connector, we are excited to announce that we will
also be integrating NACS connectors on the EVgo network in future
deployments as well as on some existing chargers,” said Cathy Zoi,
CEO of EVgo. “As a first mover in EV charging, EVgo has a history
of delivering for all EV drivers, evolving from CHAdeMO only to
CHAdeMO and CCS, and now CHAdeMO, CCS, and NACS through both
integrated connectors and Tesla to CCS adapters. We believe these
developments will help to accelerate EV adoption rates and sales,
which in turn will spur throughput growth on EVgo's network.
“With the shift to EV ubiquity underway, growing demand for
charging means there will need to be hundreds of thousands of new
fast chargers deployed in the US over the next decade, and we know
that customers select chargers based on location, convenience, and
ease of use. That is why EVgo prioritizes the deployment of
technology like Autocharge+, EVgo Rewards™ and Reservations, and
more, so that EV drivers can quickly, reliably, and conveniently
charge their vehicles no matter which plug they use. With EVgo
Renew™ underway and ongoing, we will also assess which future
upgrades or replacements can include a NACS connector as well.
“EVgo's long-term success is directly tied to EV adoption at
scale, our fantastic partnerships, and our continued technology
leadership. All of our automaker partnerships continue apace, and
the dozens of new electric vehicle models coming to market in
combination with the expansion of access to charging for NACS and
CCS vehicles will help take us even closer to making our vision of
Electric for All a reality. "
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 2019, EVgo
has purchased renewable energy certificates to match the
electricity that powers its network. As one of the nation’s largest
public fast charging networks, EVgo’s owned and operated charging
network includes around 900 fast charging locations, 60
metropolitan areas and 30 states. EVgo continues to add more DC
fast charging locations across the U.S., including stations built
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 expanded NACS
deployment plans 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 30, 2023, 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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