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EVgo Secures $1.25 Billion for Charging Expansion
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EVgo Secures $1.25 Billion for Charging Expansion

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The latest update is out from EVgo ( (EVGO) ).

EVgo Inc. has secured a $1.25 billion loan facility from the U.S. Department of Energy to support the nationwide deployment of approximately 7,500 new fast charging stalls for electric vehicles, significantly expanding its network. This strategic move is expected to enhance public charging infrastructure, foster job creation, and support the growth of the EV market, positioning EVgo as a pivotal player in the transportation electrification ecosystem.

More about EVgo

EVgo Inc. is a leading provider of public fast charging services for electric vehicles (EVs) in the United States. The company operates more than 1,000 fast charging stations across 40 states and collaborates with various businesses, including retailers and automakers, to provide accessible EV charging infrastructure. EVgo is focused on advancing the EV charging industry through innovation and technical collaboration.

YTD Price Performance: 80.73%

Average Trading Volume: 8,806,925

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $1.96B

Find detailed analytics on EVGO stock on TipRanks’ Stock Analysis page.

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