EVgo

Operates fast charging stations for EVs

Houston, Texas, United States

About EVgo

EVgo provides fast charging solutions for electric vehicles (EVs) and operates the largest public fast charging network in the United States, with over 800 stations across 66 markets. The company caters to individual EV owners, commercial businesses, retail locations, and government entities, as well as ride-sharing and autonomous vehicle fleets. EVgo's charging stations are designed to meet the growing demand for convenient and reliable charging options as more consumers and businesses adopt electric vehicles. The company generates revenue by charging users for electricity at its stations and through partnerships with commercial and retail businesses to install charging stations, often involving revenue-sharing agreements. EVgo's goal is to support the increasing number of electric vehicles on the road by providing essential charging infrastructure, ensuring high reliability and convenience for its users.

Houston, TexasHeadquarters
2010Year Founded
$478.2MTotal Funding
IPOCompany Stage
Automotive & Transportation, EnergyIndustries
201-500Employees

Benefits

Health Insurance
Life Insurance
Disability Insurance
Unlimited Paid Time Off
401(k) Retirement Plan
401(k) Company Match

Risks

Increased competition from companies like Clearlight Energy entering the EV charging market.
Rapid expansion may lead to operational challenges and resource strain for EVgo.
Departure of former executive Ivo Steklac may indicate potential talent drain.

Differentiation

EVgo operates the largest public fast charging network in the U.S. since 2010.
EVgo's chargers are compatible with all EV models accepting DC fast charging.
EVgo partners with commercial and retail businesses for strategic charging station locations.

Upsides

EVgo received a $1.25 billion loan for significant infrastructure expansion.
Partnerships with LS Power enhance EVgo's sustainability initiatives and renewable energy synergies.
Federal support aligns with EVgo's expansion, boosting clean energy job creation.

Funding

Total raised$478.19 M
Latest valuation$2.60 B
StageIPO
POST IPO DEBT
9/30/2024
$1
POST IPO EQUITY
4/30/2023
$121
$230
$2.60 B