EVgo Secures $6.6M Public Funding To Deploy More Than 100 New DC Fast Charging Stalls

EVgo Inc EVGO has bagged proposed awards of $6.6 million from the California Energy Commission's (CEC) California Electric Vehicle Infrastructure Project (CALeVIP) 2.0 program.
With the proposed funding, EVgo will build more than 100 DC fast charging stalls across 17 locations in central and eastern California.
It is a part of the Golden State Priority Project (GSPP), which provides rebates for installing DC fast chargers capable of at least 150kW.
EVgo will be deploying high-power 350kW chargers at each of the locations.
"EVgo recognizes the ongoing importance of public-private partnerships to enable rapid EV adoption, and the California Energy Commission is a true leader in incenting market acceleration and private sector investment through programs like CALeVIP 2.0," said chief commercial officer Jonathan Levy.
Price Action: EVGO shares are trading higher by 3.33% at $7.44 in premarket on the last check Tuesday.
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