EVgo

EVgo, Inc. engages in the provision of electric vehicle charging station services. It offers the EVgo network, home charging solutions, work charging solutions, and freedom station plans to electric car owners. The company was founded in October 2010 and is headquartered in Los Angeles, CA.

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EVgo reports record revenue in 2022, expands partnerships for growth

EVgo's strong revenue growth in 2022 and deepening partnerships position it well in the evolving EV market. While facing challenges like supply chain disruptions, the company is focused on expanding its charging network and optimizing operational efficiency for future growth.

EVgo reports stellar Q1 earnings, poised for growth in EV market

EVgo's Q1 2023 performance reflects strong revenue growth, operational progress, and strategic partnerships positioning the company for future success.
While facing challenges in network utilization fluctuations and higher CapEx, EVgo's focus on technology and partnerships presents growth opportunities in the expanding EV market.
With a reaffirmed revenue guidance, successful first quarter, and a focus on network expansion and customer experience, EVgo's strategy is showing early signs of success.

EVgo excels in Q2, eyes collaborations for EV market dominance

EVgo's strong Q2 performance and strategic initiatives position the company as a key player in the EV market, driving revenue growth and operational efficiency
Challenges in revenue diversification and profitability require careful navigation, while opportunities in collaboration and technological advancements offer avenues for sustained growth
Increased investments in growth areas and extended liquidity into 2025 demonstrate EVgo's commitment to innovation, market leadership, and long-term sustainability

EVgo reports stellar Q3 results, eyes growth through partnerships

EVgo's Q3 2023 performance showcased exceptional revenue growth and improved EBITDA, with a strong focus on network expansion and customer satisfaction.
The company's strategic partnerships, financial guidance raise, and cost-saving innovations position it well for future growth and operational efficiency.
While facing challenges in CapEx reduction and regulatory advocacy, EVgo's financial strength, market optimization, and customer-centric approach present opportunities for sustained success.
With a clear path to profitability, EVgo's focus on network utilization, financing strategies, and regulatory engagement underpin its resilience and growth prospects.

EVgo achieves record revenue in Q4 2023, targets profitability

EVgo's Q4 2023 performance reflects strong revenue growth, operational efficiency, and a path towards profitability by 2025.
The company's strengths lie in its business model, financial discipline, strategic focus, and transparent asset-level profitability calculations.
Challenges include ongoing negative EBITDA, energy cost uncertainties, competition, and balancing expansion with profitability.
Opportunities exist in margin expansion, NEVI funding, OEM/commercial charging growth, and rideshare customer adoption of EVs.

EVgo doubles revenue, eyes EBITDA breakeven in 2025

EVgo's strong Q1 performance, focus on growth drivers, and strategic initiatives position the company for success.
Challenges in transitioning to Level 3 charging and managing seasonality require careful navigation.
Opportunities from industry shifts, site acquisitions, and identified expansion sites offer avenues for growth.
Maintaining margins, improving pricing strategies, and enhancing customer experience are key focus areas for sustained growth.

EVgo reports record revenues, secures DOE loan for growth

EVgo's Q3 performance reflects strong revenue growth and operational expansion
Strategic strengths include securing DOE loan, partnerships, and CapEx reduction plans
Challenges lie in achieving profitability and navigating competitive EV market dynamics
Opportunities exist in leveraging federal funding, partnerships, and expanding customer base

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EVgo Inc. (NYSE: EVGO) operates a growing clean energy network of direct current (DC) fast charging stations. The Company offers both level 2 and level 3 charging stations located throughout the U.S. It competes with charging networks operated by ChargePoint Holdings Inc. (NYSE: CHPT), Blink Charging Co. (NASDAQ: BLNK), and Telsa Inc. (NASDAQ: TSLA) supercharging network.

EVgo Stock is Charged Up to Ride the EV Adoption Wave

Blink Charging

ChargePoint Holdings

Global leaders want millions of electric vehicles on the road by 2030. President Biden, for example, wants 50% of all new autos sold in the U.S. to be electric vehicles by 2030.

3 EV Charging Stocks to Own Now for Big Gains by 2030

TROY, Mich.--( BUSINESS WIRE )--OWL Services™, a premier sales, installation, program management, compliance, and service partner to industrial, commercial fleet, and electrical vehicle charging and fueling companies, today announced that it is a proud recipient of an award for Deployment Excellence from EVgo in the first-ever class of awardees in the National EV Charging Recognition Program. OWL has been recognized as an ‘EV Charging Hero' for the category of Contractors and Design/Build Partners.

OWL™ Services Receives Award for Deployment Excellence from EVgo as Part of the Connect the Watts™ National EV Charging Recognition Program

Cheesecake Factory

Avis Budget Group

Canada Goose Holdings

Clear Secure

Heavily shorted stocks are gaining momentum at the start of the year. Easing inflationary pressures and signs the economy remains resilient can be bullish for stocks in 2023.

The Most Heavily Shorted Stocks And 5 Short-Squeeze Ideas For 2023

LOS ANGELES--( BUSINESS WIRE )--EVgo Inc. (NASDAQ: EVGO), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced the awardees of its first annual National EV Charging Recognition Program, presented by Connect the Watts™. This recognition program recognizes ‘EV Charging Heroes' across different sectors within the EV charging ecosystem based on an evaluation of their commitment to, and results in, achieving widespread public EV fast charger deployment. The leaders being recognized as EV Charging Heroes will be celebrated at a virtual event for the Connect the Watts™ community on Thursday, January 19 at 11 a.m. PT.

EVgo Announces Awardees of First Annual National EV Charging Recognition Program, Presented by Connect the Watts™

Wallbox NV

Volta

Shares of electric vehicle charging companies fell ahead of Thursday's open, after Wallbox N.V. WBX, +1.10% said it was cutting about 15% of its workforce to reduce costs.

EV charging stocks fall after Wallbox's job-cut announcement

Booking Hlds

The Beachbody Co.

DoorDash

General Motors

MGM Resorts

Shake Shack

Every few days, I read or hear the news that strongly indicates that the U.S. is not going to undergo a recession in 2023. One of the most recent, startling headlines in this category came from Goldman Sachs, which predicted that even the eurozone would not suffer a recession this year.

7 Consumer Discretionary Stocks to Buy if You Don't Think a Recession Is Coming

LOS ANGELES--( BUSINESS WIRE )--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.

EVgo Launches “EVgo ReNew™” to Enhance and Improve Fast Charging Experience Nationwide

Big Lots

Chewy

Camping World Hlds

Lindblad Expeditions

Sonic Automotive

Warby Parker

While it's always risky to go against the masses, certain short-squeeze stocks for contrarians to consider may perform surprisingly well. Invariably, even the collective sometimes gets things wrong.

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Amazon

Some EV drivers will soon be able to ask Alexa to help them find nearby charging stations.

Amazon, EVgo Team Up to Help EV Drivers Find Charging Stations

E-commerce giant Amazon hopes a new partnership with EVgo , powered by its Alexa voice assistant, will help smooth the electric vehicle charging experience for owners.

Alexa, help! Amazon partners with EVgo to ease EV charging pain

LOS ANGELES--( BUSINESS WIRE )--EVgo Inc. (NASDAQ: EVGO), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced a partnership with Amazon to support an Alexa-enabled EV charging experience. This collaboration will allow drivers to ask Alexa to help them find and navigate to nearby EV charging stations, as well as initiate and pay for charging sessions at EVgo stations seamlessly. The companies plan to roll out the in-vehicle functionality to Alexa-enabled vehicles as well as automotive accessories like Echo Auto later this year.

EVgo and Amazon Partner to Enable EV Drivers to Locate and Pay for Charging with Alexa

Amazon is betting that Alexa, its voice-activated virtual assistant, can help ease one of electric vehicle drivers' biggest worries: finding a charging station while on the road.

Amazon's Alexa will soon help EV drivers find a charger

Arcimoto

Lion Electric

After a lackluster performance this year, shares of several publicly traded electric vehicle firms decided to end an embattled 2022 on a high note. Specifically, Arcimoto (NASDAQ: FUV ), Blink Charging (NASDAQ: BLNK ), EVgo (NASDAQ: EVGO ) and Lion Electric (NYSE: LEV ) saw significant gains on Friday.

Why Are EV Stocks FUV, BLNK, EVGO, LEV Up Today?

EVgo launched a $200 ATM program to raise additional funds in the future. The EV charging station model remains problematic with low margins and corporations that don't focus on strand financial metrics.

EVgo: Still On The Bleeding Edge

There will be an increasing need for EV charging networks. EVGO has proprietary technology architecture to meet increasing charging requirements.

EVgo: I Expect The Demand For EV Charging Infrastructure To Rise With EV Adoption

Lyft

One of the core advantages of owning an electric vehicle over a gas-powered one is that, despite the higher upfront cost, charging and maintaining it is typically significantly less expensive.  For Lyft (NASDAQ: LYFT) drivers, it just got even cheaper when the company on Tuesday, announced a new discounted charging program with EVgo Inc. (NASDAQ: EVGO), which operates one of the nation's largest networks of fast-charging stations for EVs.

Lyft drivers to receive discounted charging with EVgo

EVgo operates about 850 direct-current, fast-charging locations that serve more than 60 metropolitan areas across 30-plus U.S. states.

Lyft Gives Drivers Another Reason to Go Electric, With EVgo Charging Discount

LOS ANGELES--( BUSINESS WIRE )--EVgo Inc. (NASDAQ: EVGO), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced the launch of a new EV charging discount program for rideshare drivers on the Lyft platform. This expansion of EVgo and Lyft's collaboration demonstrates the companies' shared commitment to achieving mass EV adoption and increases access to convenient fast charging infrastructure for rideshare drivers.

EVgo and Lyft Launch New Partnership to Accelerate Rideshare Electrification Nationwide

LOS ANGELES--( BUSINESS WIRE )--EVgo Inc. (NASDAQ: EVGO), one of the nation's largest public fast charging networks for electric vehicles (EVs), announced the opening of a new EVgo public fast charging station at Marina Square Shopping Center in San Leandro, California. Located at 1201 Marina Boulevard, the charging station serves up to four vehicles simultaneously through 100kW and 350kW chargers. The new EVgo charging station was unveiled during a ribbon cutting ceremony Monday, November 21 at 2 p.m. PT and featured a lineup of local speakers from the private and public sectors coming together to celebrate the expansion of fast charging access in the area.

EVgo Opens New Fast Charging Station in East Bay to Support Local EV Adoption

EVGO ended the quarter with a growing top line, which comes from its increasing DC stall count and customer base. The company also has new commercial partnerships, contributing to its expanding development pipeline.

EVgo: Keeping Its Fast-Charging Stalls And Customer Base Growing

LOS ANGELES--( BUSINESS WIRE )--EVgo Inc. (NASDAQ: EVGO) (EVgo), one of the nation's largest public fast charging networks for electric vehicles (EVs), announced a commercial agreement with Subaru of America, Inc. to provide drivers of the 2023 Solterra EV SUV with the option to receive a $400 charging credit on the EVgo public fast charging network. This announcement follows the company's previous news of becoming Subaru's preferred EV charging partner in the beginning of 2022.

EVgo and Subaru Announce $400 Charging Credit for 2023 Solterra Customers

BLOOMFIELD, N.J.--( BUSINESS WIRE )--The newly renovated Brookdale ShopRite today hosted a ribbon cutting ceremony to debut an EVgo Inc. (NASDAQ: EVGO) (EVgo) electric vehicle (EV) fast charging station at its 1409 Broad Street parking lot in Bloomfield, NJ.

Brookdale ShopRite and EVgo Unveil New Fast Charging Station

LOS ANGELES--( BUSINESS WIRE )--EVgo Inc. (NASDAQ: EVGO) (EVgo), one of the nation's largest public fast charging networks for electric vehicles (EVs), today unveiled a new promotional charging plan exclusively for Tesla Model S, 3, X and Y drivers and announced that Autocharge+ is available for Tesla drivers with the CCS Combo 1 Adapter at nearly all EVgo DC fast charging locations.

EVgo Announces New Promotional Offer for Tesla Drivers, Enables Seamless Charging Experience with EVgo Autocharge+

Freeport-McMoRan

General Electric

InterContinental Hotels Group

SunPower

With macroeconomic trends becoming much more favorable and many growth stocks trading at depressed levels, there are several reasons to believe that growth stocks will soon rally. As a result, longer-term investors should look for growth stocks to buy at this point.

News for EVgo Stock (EVGO)