GM General Motors Company

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)

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