Mentioned:
One of the biggest automakers in the world is deepening their bet on electric vehicle charging stations.
What’s happening:
- EVgo (NASDAQ: EVGO) and General Motors (NYSE: GM) have announced new plans to build out flagship fast charging stations for electric vehicles in the United States
The big idea:
- The new flagship fast charging stations will emulate the architectural layout of a traditional gas station and will be capable of charging a much higher volume of electric vehicles than existing charging stations due to the volume of individual chargers available
- EVgo and General Motors will leverage EVgo’s proprietary prefabrication approach to constructing the new flagship charging stations, which significantly accelerates the build out process
By the numbers:
- The new expansion from EVgo and General Motors is aiming to build out 400 new flagship charging stations in different locations across the United States
- EVgo currently operates more than 1,000 electric vehicle charging stations across 35 different states and has more than 1M customers
Going deeper:
- EVgo has also successfully built out charging stations with notable location partners including Whole Foods, Chase and Target
- The existing partnership between General Motors and EVgo has already led to the construction of electric vehicle charging stations in Arizona, California, Georgia, Texas, Michigan and New York
