Evgo Inc's Business Segments

Evgo Inc., also known as EVgo, is an American company that specializes in providing electric vehicle (EV) charging solutions. Founded in 2010, the company has established itself as a major player in the electric mobility industry and is committed to accelerating the adoption of clean transportation. EVgo is headquartered in Los Angeles, California, and operates one of the largest public EV charging networks in the United States.

The primary focus of EVgo is to develop, own, and operate fast-charging stations for electric vehicles. The company aims to address the major barriers to EV adoption, mainly charging infrastructure accessibility, by providing reliable and convenient charging options. EVgo's charging stations are strategically located in high traffic areas, such as shopping centers, grocery stores, and transportation hubs.

EVgo offers different charging solutions to cater to the diverse needs of electric vehicle owners. Its primary offering is Level 2 charging, which provides a medium-speed charging option. These chargers are suitable for longer parking sessions, typically found at workplaces, multi-unit dwellings, and retail locations. Level 2 chargers can provide a significant charge boost to electric vehicles within a few hours.

Additionally, EVgo is famous for its ultra-fast charging stations that can power electric vehicles at a much quicker rate. These fast chargers, commonly known as DC fast chargers, can charge vehicles from zero to 80% in as little as 30 minutes. EVgo strategically deploys these fast chargers along major highways, enabling long-distance electric travel and minimizing range anxiety for EV owners.

The company has developed a user-friendly mobile app and a website to help customers locate their nearest EVgo charging station, monitor charging progress, and make payments. This digital platform offers a seamless experience for EV owners, allowing them to plan their trips and access charging stations hassle-free.

Moreover, EVgo operates with a strong commitment to sustainability. It sources its electricity from renewable sources, ensuring that the charging infrastructure has a minimal carbon footprint. The company also actively participates in utility-grid programs to balance and optimize energy demand, maximizing the utilization of renewable energy resources.

In addition to supporting individual electric vehicle owners, EVgo also collaborates with businesses and organizations to deploy charging solutions tailored to their needs. The company works with fleet operators, ride-hailing services, automakers, and property developers to establish charging infrastructure that can accommodate multiple electric vehicles simultaneously.

EVgo has formed partnerships with various automakers, including Nissan, BMW, and Uber, to expand its charging network and accelerate EV adoption. These collaborations often include special benefits and incentives for electric vehicle owners, such as discounted charging rates and easy access to the charging infrastructure.

Overall, EVgo Inc. stands as a prominent player in the electric mobility industry, pioneering the development of a reliable and accessible charging infrastructure for electric vehicles. With its extensive network of charging stations and dedication to sustainability, the company is helping to shape a clean and green future of transportation.

The Company operates in a single operating and reportable segment. Its Chief Operating Decision Maker (CODM) reviews consolidated financial information to make operating decisions, allocate resources, and assess performance. General and administrative expenses for the years ended December 31, 2025 and 2024 are categorized into operations/network operations, other general and administrative, technology and development, and sales and marketing.