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Seismic shift in competitive landscape opens opportunity to further drive utilization of the EVgo network, expand footprint with new site host partners, and serve more Tesla EV drivers
EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (EVs), this announced that the Company will begin to deploy North American Charging Standard (NACS) connectors — currently in the process of being standardized as SAE J3400 — on its fast charging network later this year.
As part of its commitment to serve all EVs, stations included in the roll-out will serve both CCS and NACS vehicles. Deployments will begin in key markets with high NACS vehicle penetration, enabling the Company to maximize charger utilization. Overall utilization on the EVgo network in the first quarter of 2024 was approximately 19%, up from approximately 9% in the first quarter of 2023.
“The seismic shift in the competitive landscape for EV charging has opened new opportunities to drive usage on the EVgo network and accelerate our network expansion by fostering new site host partnerships,” said Badar Khan, CEO of EVgo. “EVgo had previously identified more than 100,000 potential stalls with strategic site host partners, and with recent industry changes, we welcome further dialogue with our current and potential partners on how we can collaborate deploy more fast charging infrastructure in convenient locations for drivers.”
EVgo’s NACS roll-out will be unique given the network’s proliferation of high-power 350kW chargers that require liquid cooled cable technology. Today, nearly 40% of EVgo’s stalls are powered by a 350kW charger — almost double the percentage a year ago — to best serve vehicle models with the most advanced battery technology and high peak charge rates.
Both Tesla and future non-Tesla NACS vehicles will be able to take advantage of Autocharge+, EVgo’s streamlined payment feature that allows drivers to plug in and initiate a charge without the use of an app, credit card, or RFID card. Autocharge+ mirrors the Plug and Charge experience and is available to over 50 vehicle models, including all Tesla models today that are compatible with the CCS adapter made by Tesla.
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. EVgo is one of the nation’s largest public fast charging providers, featuring over 1,000 fast charging locations across more than 35 states, 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 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.
Press & images courtesy of EVgo.
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