EVgo Inc (NASDAQ: EVGO) is an electric vehicle charging infrastructure company that builds, owns, and operates a public DC fast charging network across the United States. Revenue comes primarily from two streams: charging revenue from retail drivers who pay to use networked chargers, and charging revenue from fleet and commercial partners who access the network under separate arrangements. Pricing options include a subscription offering and pay-as-you-go plans. EVgo also generates revenue by leasing charging equipment and stations to third parties under agreements that provide for fixed monthly payments. The company competes directly with Tesla, Electrify America, ChargePoint, Ionna, and Blink. Site selection relies on proprietary data science and GIS tools that optimize charger placement across national, metropolitan, utility-territory, and site-specific levels. The business is capital-intensive, with costs concentrated in site leasing, construction, equipment, electricity procurement, and ongoing station maintenance. Funding sources include government programs such as the NEVI Program and a DOE loan facility, alongside utility incentive programs.

Revenue model

Charging revenue from retail drivers via subscription and pay-as-you-go plans; charging revenue from fleet and commercial partners; equipment and station leasing revenue from third parties under fixed monthly payment agreements.

Products and services

Public DC fast charging stations; EVgo network membership subscription (EVgo Basic, EVgo PlusMAX); EVgo eXtend, EVgo Inside, EVgo Optima, EVgo ReNew, EVgo Reservations, EVgo Rewards, EVgo Access, EVgo Advantage; PlugShare app and related services including PlugShare Premium, PlugShare DataTool, PlugInsights, and PlugScore; charging equipment leasing.

Customers and end markets

Retail EV drivers accessing public fast charging; fleet operators electrifying vehicle fleets; OEM partners; site host partners including national and regional retail chains and real estate investment trusts.

Value-chain role

Builder, owner, and operator of public DC fast charging infrastructure; positions between electricity utilities (upstream supply) and end-user EV drivers and fleet operators (downstream demand).

Geographic exposure

United States, with network design spanning national, metropolitan division, and utility-territory levels. Specific geographic revenue breakdown not disclosed in the filing excerpts.

Competitors

Tesla, Electrify America, ChargePoint, Ionna, Blink

Source: SEC 10-K, filed 2026-03-09

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