EVgo Inc 8-K, filed Nov 9, 2021
EVgo Inc. (EVGO)
About this 8-K
EVgo Inc filed this 8-K on November 9, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (I.R.S. Employer Identification Number) |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s
telephone number, including area code: (
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging
growth company
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. Other Events.
On November 9, 2021, EVgo issued a press release announcing an expansion of its fast-charging infrastructure build-out collaboration with General Motors. A copy of the press release is furnished as Exhibit 99.1 hereto.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit |
Description | |
| 99.1 | Press Release, dated November 9, 2021. | |
| 104 | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EVgo Inc. | ||
| Date: November 9, 2021 | ||
| By: | /s/ Olga Shevorenkova | |
| Name: | Olga Shevorenkova | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
General
Motors and EVgo Boost Build Plan for High Power Fast
Chargers Across the US
Under
expanded agreement, EVgo and GM will deploy 3,250 charging stalls across the country
to the nation’s largest public fast charging
network through 2025
LOS ANGELES – November 9, 2021 -- EVgo Inc. (NASDAQ: EVGO), owner and operator of the nation’s largest public fast charging network for electric vehicles (EVs), and General Motors (GM) announced an expansion of their fast charging infrastructure build-out collaboration currently underway across the U.S. EVgo and GM previously announced a tripling of the EVgo network with plans to build 2,750 charging stalls through 2025.
In response to the growing demand for charging infrastructure and new vehicles coming to market in the later years of the program, EVgo and GM have now expanded their build plan to add another 500 high-powered DC fast charging stalls, bringing the total to 3,250 through 2025 and extending the geographic reach from 40 metropolitan markets to 52.
Stations that are part of the program are now live in eight states, including in Georgia, Florida, Pennsylvania, Colorado and North Carolina. The joint program will further accelerate widespread EV adoption and increase public access to charging, including in future markets in Alabama, Wisconsin, Kentucky, Michigan, Ohio, and Texas. This includes drivers who live in multi-unit dwellings, rent their homes and can’t install chargers, or might not otherwise have access to home or workplace charging. These DC charging stalls could also provide a fast-charging option for drivers who’d like to charge on-the-go.
EVgo will continue scaling fast charging deployments for the program as newer EV models hit the market in the next few years. GM’s sustained commitment to electrification includes plans to deliver 30 EV models to the market globally through 2025. The new EVgo sites all deploy cutting-edge power sharing technology, including high power fast chargers capable of delivering up to 350 kW. Sites can provide up to 150 miles of range in 8-12 minutes1 for new 350k-capable EV models coming to market.
“As EV adoption picks up momentum across both consumer and commercial segments, the charging infrastructure buildout needs to continue being a few steps ahead of demand. EVgo is committed to reliable and convenient charging for all,” said EVgo CEO Cathy Zoi. “We are thrilled to expand the scope of our collaboration with GM – a testament to our successful partnership. We look forward to working together as we expedite the journey to an electrified future for the betterment of our planet.”
1 The speed at which an EV can charge and its efficiency are determined by its overall size as well as battery size and charging capabilities of the vehicle itself. Currently there are no EVs on the market that can accept 350kW of power. However OEMs have indicated/announced development of new models with up to 350kW capability will be available in the next few years.
“DC fast charging is crucial to our goal of putting everyone in an EV and making electrification convenient,” said Rick Spina, GM vice president of AV/EV Commercialization and Infrastructure. “Growing the geographic footprint of our collaboration with EVgo to even more metropolitan areas will be key to making fast charging accessible to more customers.”
The infrastructure collaboration builds on GM’s commitment to offering zero emissions vehicles across a range of price points. The new stations added to the EVgo network will continue to be powered by 100% renewable electricity.
EVgo has more than 2,000 sites in its active engineering and construction pipeline. With this program and the Company’s continued growth across the US, EVgo’s public charging network will span over 75 metro markets in at least 40 states by 2025.
About EVgo
EVgo (NASDAQ: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 300,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.
Contacts
For Investors:
Ted Brooks, VP of Investor Relations
investors@evgo.com
310-954-2943
For Media:
press@evgo.com