LOS ANGELES--(BUSINESS WIRE)--
EVgo Inc. (NASDAQ: EVGO), one of the nation’s largest public fast charging networks for electric vehicles (EVs), today announced EVgo ReNew™, an enhanced and comprehensive maintenance program designed to ensure stations across EVgo’s charging network meet its quality and technology standards. Through the program, EVgo plans to replace, upgrade, or in some cases retire, hundreds of stations over the coming year with the goals of enhancing charger availability and building range confidence for EV drivers of all types.
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The EVgo ReNew program will replace, upgrade, and, in some cases, retire hundreds of stations over the course of the year in order to enhance and build up charger availability and reliability. (Photo: Business Wire)
EVgo ReNew is comprised of six core pillars that outline EVgo’s approach to reliability: Prevention, Diagnostics, Rapid Response, Analysis, Resilience, and Continuous Customer Service. This effort includes ramping up in-person preventative health checks of chargers; improving system monitoring, diagnostic, and recovery tools; replacing legacy equipment; and retiring problematic chargers if replacement or upgrade is impractical. EVgo ReNew builds on EVgo’s existing charger maintenance efforts, which include 24/7 monitoring and preventative health checks at charging stations, as part of its commitment to industry-leading uptime.
EVgo evaluates sites based on historical charger performance, current and forecast user demand, technical capacity at the location, and proximity to other fast charging stations. Where possible, EVgo will install new chargers with power levels up to 350kW. Through a combination of proprietary market analysis, data-driven insights and customer feedback, the program also identifies sites for decommissioning. In addition to site-level analysis, EVgo also works with site host partners to assess factors like charger placement, station size, and power levels to ensure charging options provide the greatest value for their customers and the community.
“More than a decade ago, EVgo was one of the first companies to install public fast chargers. The EVgo ReNew program represents our ongoing dedication to reliability as we proactively modernize legacy infrastructure and work to deliver the consistent, high-quality charging experience customers expect across our network,” said Cathy Zoi, CEO at EVgo. “As more EVs come to market with expanded ranges, large battery packs and higher power charging capabilities, EVgo is invested in building and maintaining a charging network fit to welcome and support an all-electric future for every driver.”
With EVgo’s network currently charging nearly 50 different EV models – and an anticipated total of more than 100 EV models available to the market in the next two years – EVgo ReNew is designed to ensure that all EV drivers will be able to take advantage of reliable, convenient and fast charging sessions across EVgo’s nationwide network.
Through the first three quarters of 2022, EVgo upgraded, replaced or removed 125 charging stalls and is actively working with partners and site hosts to evaluate upgrading, replacing, or removing hundreds of additional charging stalls in 2023.
For more information about EVgo ReNew, visit . EVgo customers can also refer to the EVgo app and PlugShare to see current charger status and view notifications of maintenance or construction work that may impact station availability.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building and operating the infrastructure and tools needed to expedite the mass adoption of electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. Since its founding in 2010, EVgo has led the way to a cleaner transportation future and its network has been powered by 100% renewable energy since 2019 through renewable energy certificates. As one of the nation’s largest public fast charging networks, EVgo’s owned and operated charging network features over 850 fast charging locations – currently serving over 60 metropolitan areas across more than 30 states – and continues to add more DC fast charging locations through ™, its white label service offering. EVgo is accelerating transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. With a rapidly growing network, robust software products and unique service offerings for drivers and partners including ™, ™, ™, and , EVgo enables a world-class charging experience where drivers live, work, travel and play.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on management’s current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, express or implied statements regarding EVgo’s expectations and plans for its ReNew program, including the scope and duration of the program; the number of stalls and chargers targeted through the program; and the anticipated benefits of the program. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of EVgo’s management, and are not predictions of actual performance. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release. See “Risk Factors” in EVgo’s Annual Report on Form 10-K filed with the SEC on March 24, 2022, as well as its other filings with the SEC, copies of which are available on EVgo’s website at investors.evgo.com, and on the SEC’s website at . All forward-looking statements in this press release are based on information available to EVgo as of the date hereof, and EVgo does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
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