- Business
- EVgo Inc. (Nasdaq: EVGO) owns and operates one of the largest public direct current fast charging networks for electric vehicles in the United States, with over 1,100 fast charging locations across 47 states serving individual drivers, rideshare and commercial fleets, businesses, automakers, and retail hosts such as grocery stores, shopping centers, and gas stations; its core offerings include DC fast chargers up to 350kW supporting CCS and CHAdeMO protocols powered by 100% renewable energy, value-added services such as EVgo Optima subscription pricing, EVgo Inside for fleets, EVgo Rewards loyalty program, Autocharge+ for seamless payments, EVgo eXtend white-label infrastructure solutions, and software platforms for station management, remote monitoring, and customer engagement via mobile app. Founded in 2010 and headquartered at 11835 West Olympic Boulevard in Los Angeles, California, the company partners with original equipment manufacturers including General Motors, Toyota, and Nissan, as well as fleet operators and site hosts like Meijer and Regency Centers, to expand its nationwide footprint powered by 153 million Americans and plans to triple its network over the next five years through initiatives like the ReNew program for charger upgrades and next-generation architecture. In July 2025, EVgo closed a landmark $225 million senior secured non-recourse credit facility, oversubscribed and led by SMBC with participation from Bank of Montreal, Royal Bank of Canada, ING, and Investec, providing optionality up to $300 million to deploy more than 1,500 additional high-power stalls including dedicated hubs for autonomous vehicles and public fast charging, marking the first such commercial bank financing for U.S. charging infrastructure and following 2024 achievements of $257 million in revenue up 60% year-over-year with expanded GM partnership surpassing 2,000 stalls.