From Nasdaq: 2024-12-13 08:41:00

EVgo, Inc. secures a $1.25 billion loan from the U.S. Department of Energy to build 7,500 new fast-charging stalls by 2029, expanding its network to 10,000. The initiative aims to boost EV adoption, create jobs, and support the automotive industry’s investment in affordable EV models.

The funding will help EVgo create over 1,000 jobs in the U.S. and drive local economic growth. In the third quarter, EVgo reported revenues of $67.5 million, up from $35.1 million in 2023, with expectations of total revenues in the range of $250-$265 million for 2024.

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Read more at Nasdaq: EVgo Secures $1.25B Loan to Build Fast-Charging Stalls Across US