Exciting news for building electrification infrastructure and creating jobs in the U.S., looking forward to seeing more EVgo fast chargers in the next couple of years!
EVgo has closed a $1.25 billion guaranteed loan facility ($1.05 billion of principal and up to $193 million of capitalized interest) from the Loan Programs Office | U.S. Department of Energy to support the nationwide deployment of fast charging infrastructure, with approximately 7,500 new high-power fast charging stalls to be built across the country over the next five years. According to Cox Automotive, EVs now account for roughly 9% of new vehicle sales in America, and increasing consumer confidence in the availability of public charging is key to the success of the investments the automotive industry has made here in the U.S. “As one of the nation’s leading public fast charging providers, we are well-positioned to deploy the infrastructure needed to support both current and future domestic investments in transportation electrification,” said EVgo CEO, Badar Khan. “This public-private partnership will help us continue to scale our operations to serve the influx of vehicle options that will be available to American consumers in the coming years.” Read more in our release: https://lnkd.in/gJGaU97d #EVgo #ElectricVehicles #ChargingNetwork #EVCharging #DOELPO