EVgo Inc

investors.evgo.com

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.