EVgo Inc. is embarking on a substantial expansion of its electric vehicle fast-charging network, committing to the deployment of a minimum of 150 new fast-charging stalls each year at Kroger Family of Stores across the United States through 2035. This ambitious plan strengthens a collaboration initiated in 2022, aiming to significantly improve access to convenient fast-charging options for shoppers. By installing up to 16 high-power fast-charging stalls at select Kroger locations, EVgo seeks to offer a seamless charging experience for customers while they conduct their grocery shopping. This strategic initiative underscores EVgo's dedication to broadening EV infrastructure and supporting the growing adoption of electric vehicles nationwide.
In a further move to enhance charging accessibility, EVgo also announced its intention to expand its NACS (North American Charging Standard) connector network, projecting to install more than 500 NACS connectors by the close of the current year. This follows a successful pilot program in 2025, which saw approximately 100 connectors deployed across 22 major metropolitan areas. CEO Badar Khan highlighted that the integration of NACS connectors is crucial for increasing public fast-charging availability, especially as over 35 NACS-compatible vehicle models become prevalent on American roadways. These expansion efforts are complemented by the company's strong financial performance, with the latest quarterly reports showing a total revenue of $92.3 million, marking a 37% increase from the previous year, and a 33% year-over-year growth in charging network revenue, reaching $55.8 million. The network's throughput also reached an impressive 95 GWh, with 4,590 stalls operational and a cash balance of $201 million.
EVgo's continuous advancements in expanding its charging infrastructure and delivering solid financial results not only reflect its leadership in the EV charging sector but also contribute significantly to the broader movement towards sustainable transportation. By making EV charging more accessible and convenient, EVgo plays a vital role in encouraging electric vehicle adoption, fostering a cleaner environment, and driving innovation within the energy sector. This forward-thinking approach benefits both consumers and the planet, paving the way for a more sustainable future.