EVgo shares rose 60% on Oct. 3 following news that the company has received a conditional commitment from the US Department of Energy for as much as $1.05 billion in debt financing.
EVgo owns and operates a public direct current fast-charging network in the us. Its network of charging stations provides electric vehicle charging infrastructure to consumers and businesses. The network is capable of charging all EV models and meets all charging standards currently available in the us. EVgo partners with national and regional chains of grocery stores, automotive original equipment manufacturers, hotels, shopping centers, gas stations, parking lot operators, local governments and independent property owners in order to locate and deploy its EV charging infrastructure.