EVgo Stock Soars After GM Selects As Preferred Provider For EV Fleets

EVgo Inc EVGO has been chosen by General Motors Co GM as a preferred provider for Ultium Charge 360 fleet service.
EVgo will deploy new charging and infrastructure solutions for GM fleet and BrightDrop customers.
These customers can also receive program discounts at EVgo's network of more than 800 public fast-charging locations.
GM's Ultium Charge 360 fleet service will support EV fleet electrification for rideshare, delivery, municipal, autonomous, government, and other market segments.
In July 2020, GM and EVgo announced plans to accelerate EV adoption by adding more than 2,700 fast chargers through 2025.
Price action: EVGO shares are trading higher by 13.6% at $12.018, while GM was down 2.07% at $56.79 on the last check Thursday.