Nissan Max-Out Convertible Concept Unveiled At Nissan Futures Event

More

Mercedes-Benz GLE Gets New PHEV Powertrain, Fresh Look

More

2024 Mazda CX-90 Plug-in Hybrid SUV Unveiled

More

Audi Activesphere Concept is luxury crossover that turns into a pickup

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

LS Power to acquire EVgo fast EV charging network

LS Power, a U.S. power and energy infrastructure owner, announced that it has signed a definitive agreement to acquire EVgo from Vision Ridge Partners.

EVgo is the nation’s largest public fast charging network for electric vehicles and will continue to operate as a stand-alone entity under the LS Power umbrella of companies. The transaction is expected to close in early 2020 and financial terms were not disclosed.

Founded in 2010, EVgo is a market leader in developing, building, owning and operating the largest electric vehicle fast charging network in the United States. Its industry-leading footprint of more than 750 sites includes over 1,250 fast chargers and extends across 34 states.

In 2018, EVgo’s public fast charging network powered more than 75 million electric miles and offset an estimated 17,000 metric tons of carbon emissions. In 2019, EVgo became the first EV charging network in the U.S. to be powered by 100% renewable energy. Additional network capacity expansion underway will further accelerate EVgo’s contribution to decarbonizing the transportation sector, which has been identified by the Energy Information Administration as the leading source of greenhouse gas emissions.

Today’s announcement underscores LS Power’s commitment to investments which leverage its considerable power market expertise in leading edge energy infrastructure businesses.

“EVgo is a well-established leader in EV charging, with an exceptional team dedicated to building, owning and operating the most extensive public fast charging network in the United States,” said David Nanus, Co-Head of Private Equity at LS Power. “This acquisition provides LS Power the opportunity to support the continued expansion of EVgo’s unmatched charging infrastructure platform, already present in 66 metropolitan markets, and invest further in the company’s growth as the market for EVs continues to expand.”

As a result of this transaction, EVgo will be positioned to increase its growth while maintaining its industry leadership position and best-in-class reliability and customer service, enabling the rising number of EVs to charge quickly where and when they choose.

“EVgo has been leading the way to make going electric a reality for more American drivers by siting reliable fast charging where people want and need to be,” said Cathy Zoi, CEO of EVgo. “We have enabled 80% of Californians and more than 100 million Americans to live within a 15 minute drive of an EVgo fast charger, numbers that will increase as we continue to build across the country. Today’s news means that we can accelerate access to fast charging as we grow our network as part of the LS Power platform.”

Jan 5, 2020Blagojce Krivevski
Tesla delivers record 112,000 EVs in Q4Citroen C5 Aircross SUV Hybrid unveiled
You Might Also Like
 
BMW partners with QMerit to launch new BMW Installation Services digital platform for home charging solutions
 
XPeng reveals 480 kW ultra-fast charger that can add 200 km of range in 5 minutes
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

January 5, 2020 Electric Car NewsEV Charging, eVgo, LS Power
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
Recent News
Volvo Cars reports January sales – 40.7% market share of electrified cars
February 3, 2023
Polestar and Luminar expand partnership to include Polestar 5
February 3, 2023
XPENG Launches G9 SUV And P7 Sedan For Europe
February 3, 2023
Volkswagen launches ID.4 campaign in collaboration with Marvel Studios’ Ant-Man and The Wasp: Quantumania
February 3, 2023
Honda to launch next-generation fuel cell system by mid-2020s
February 2, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
Volvo Cars reports January sales – 40.7% market share of electrified cars
February 3, 2023
Polestar and Luminar expand partnership to include Polestar 5
February 3, 2023
XPENG Launches G9 SUV And P7 Sedan For Europe
February 3, 2023
Subscribe

Sign up for our newsletter to receive the latest news and event postings.

Get in touch

Email: [email protected]

Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.