EVgo Jumps 15 Percent As It Gets Awarded A Grant: What Are Your Next Steps?

EVgo was awarded multiple grants from the Pennsylvania DEP to expand its fast-charging network with the addition of high-powered DC fast-charging stations. This is part of the agency’s Driving PA Forward initiative. EVgo stock climbs higher in the market today by 15% after the news to $11,56. EVgo is spreading its net wider in Pennsylvania, with the help of the Department of Environmental Protection, it has been able to do so. EVgo has a total of eight site host partners in Pennsylvania, with locations ranging from retail centers to hospitals. As of November 2021, its customer accounts have grown significantly since the beginning of the year.

Through the Pennsylvania Department of Environmental Protection’s Driving PA Forward initiative, which is focused on improving air quality, the state is pushing the transition to cleaner transportation technologies, such as electric vehicles. EVgo is the leading provider of public fast charging for electric vehicles. There are more than 800 locations across 35 states, the company is the largest public charging network in the US. EVgo is a transportation electrification company that works with various partners, including automakers, fleet operators, and retail hosts. Through its advanced charging technology, EVgo helps drivers enjoy the convenience of driving an EV across the US.